Picture: JSE
Picture: JSE

The rand and JSE appeared to be seen as a safe haven ahead of Tuesday’s US congressional elections.

The rand strengthened from R14.41/$ to R14.14/$ on Monday, and was trading at R14.19/$, R16.19/€ and R18.52/£ at 6.25am.

Rand over the past two days
Image: Iress

On a generally bad Monday for global stock markets, the JSE’s all share index rose 1.19%.

The JSE has rebounded for the past four trading days
Image: Iress

Whether the JSE will manage a fifth trading day of gains on Tuesday was unclear from Asian markets. Tokyo’s Topix index was up 1.25% while mainland China’s Shanghai composite index was down 1.05%.

Naspers’s main asset, Tencent, was down 1.23% to HK$288.80 in Hong Kong while the JSE top 40’s second-largest constituent, BHP, was up 1.22% to A$33.52 in Sydney.

Companies that may release results on Tuesday include Ayo Technology Solutions and Gaia Infrastructure Capital.


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