SA’s GDP data in the spotlight on Tuesday
The local bourse is poised for a slightly softer opening as the euphoria that greeted global stock markets on Monday morning wanes
As investors await the release of SA’s economic growth data on Tuesday, the JSE is poised for a slightly softer opening as the euphoria that greeted global stock markets on Monday morning wanes. After the JSE’s close on Monday, the S&P 500 index closed 0.39% lower and the Dow Jones Industrial Average lost 0.79%. That set Asian markets up for a weaker opening on Tuesday. Japan’s Nikkei 225 index was 0.55% down after the lunch break, and Hong Kong’s Hang Seng index was 0.13% lower. JSE-heavyweight BHP Group was 0.64% down in Australia, although Naspers’s flagship asset, Tencent, was building on Monday’s gains. The Chinese internet behemoth was 2.83% up in Hong Kong, meaning Naspers is poised for another strong day. On Monday, Naspers closed 3.34% up at R3,157. Traders will be keeping a close eye on SA’s GDP numbers for the fourth quarter of 2018, which are due late on Tuesday morning. Investec said on Monday it expected SA’s economy to have produced growth of just 0.7% for the full ye...
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