JSE could struggle for direction as Asian markets edge higher
Concerns of slowing global economy has led to the bourse extending losses to a third-consecutive session on Monday
The JSE could struggle to find direction on Tuesday morning as some Asian stock markets edged higher following Monday’s sharp sell-off while Chinese equity markets fell further. SA’s main bourse slipped more than 1.5% to a one-month low on Monday, extending losses to a third-consecutive session, amid growing concerns that the global economy is slowing. Monday’s declines were led by mining stocks, which came under pressure as Asian markets posted their worst one-day losses so far in 2019. But Japan’s Nikkei 225 index was 2% stronger on Tuesday, while Hong Kong’s Hang Seng index and Korea’s Kospi both edged slightly higher. The Shanghai Composite, however, was down 1%. While shares in Naspers’s main asset, Tencent, were 0.7% lower, BHP Group was up 1.2% in Australia. On the JSE, small-caps including financial services group Ecsponent and drilling services company Master Drilling Group are due to report financial results. Ecsponent said on Monday its headline earnings per share in the ...
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