JSE opens higher amid optimistic trade in Chinese markets
The all share started the week on the front foot as Naspers gained on upbeat Tencent trade in Hong Kong, but analysts warn of risks
The JSE started the week on a high note as industrials jumped after Chinese authorities said they were contemplating further stimulatory measures to boost the economy following disappointing growth numbers. Local retailers and banks gained on a firmer rand, trading at R14.2917 to the dollar from R14.4488. Chinese markets were booming on Monday morning, supported by hopes of further easing measures from the central bank, FxPro analysts said. "However, the risks associated with developments in Saudi Arabia, Brexit and the Italian budget constrained US and European markets," they said. China’s GDP growth increased 6.5% in the third quarter, down 0.2% compared to the 6.7% the country posted in the previous quarter – representing the slowest level of economic growth since the global financial crisis in 2008. However, over the weekend officials from the Chinese central bank and various other state institutions resolved to support the country's private sector, which has the full support of...
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