JSE likely to follow Asian markets slightly lower on Tuesday
Attention shifts to the US Federal Reserve’s mid-week meeting
The JSE is likely to follow Asian markets slightly lower on Tuesday, as attention shifts to the US Federal Reserve’s mid-week meeting. Hong Kong’s Hang Seng Index was 0.3% lower at the lunch break on Tuesday, with Tencent 0.5% down. That points to a softer opening for Naspers, which owns 31% of the Chinese technology giant. Tencent’s strong recovery over the past six months, which has aided the JSE, is partly due to waning uncertainty, local money manager Vestact said in a note to clients. The group had “found a way to fit in” with the Chinese government’s conservative views by imposing age limits on its games, among other measures. At the National People's Congress last week, Chinese legislators dropped language that would have invalidated the so-called "variable-interest entity" structures used by Chinese technology giants, including Tencent and Alibaba, to list their shares in Hong Kong and the US, Vestact said. Meanwhile, Japan’s Nikkei 225 index was 0.1% lower on Tuesday, while...
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