JSE likely to follow Asia’s gloomy lead
The downbeat mood on Asian markets indicates another bad day for the JSE, which fell 1.6% on Wednesday
Asian markets returned to gloom on Thursday morning, indicating another bad day for the JSE, which fell 1.6% on Wednesday. Tokyo’s Nikkei 225 fell 0.6% after Japanese balance of trade figures for September showed exports declined by 1.2% whereas the economists’ consensus was 1.9% growth. Tencent was down 1.1% to HK$278.40, indicating Naspers is likely to continue Wednesday’s slide of 2.26% to R2,757.15. BHP was down 1.56% to A$33.14 in Sydney. BHP closed 2.2% down at R291.65 on the JSE on Wednesday. The release of the US central bank’s Federal open market committee’s minutes, which indicated further interest rate increases, saw the dollar strengthen against most currencies, including the rand, which was trading at R14.27/$ at 6.20am. The rand was at R16.40/€ and R18.69/£. Computer group Datatec said on October 2 that it expected to report on Thursday that its first-half results would show a return to headline earnings per share (HEPS) of between 0.5 US cents and 1c from a headline l...
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