JSE looks set for strong start to the week
Asian stocks powered ahead thanks to positive manufacturing data out of China and optimism that a resolution to the trade spat is imminent, which bodes well for the local bourse
The JSE looks poised for a strong start to the week, with Asian stocks powering forward on Monday thanks to positive manufacturing data out of China and optimism that a resolution to the trade spat between the world’s two largest economies is imminent. On Sunday, the Chinese government said manufacturing activity rebounded in March, while trade talks between the US and China are set to resume this week. The unexpected increase in factory activity helped boost Asian stocks on Monday. The Shanghai composite index was 2.3% up, while Hong Kong’s Hang Seng index was 1.7% higher and Japan’s Nikkei 225 index was 1.5% stronger. Major indices in Korea, Singapore and Australia were also higher. Shares in Tencent, Naspers’s flagship asset, were 1.3% up in Hong Kong, while BHP Group was 1.5% higher in Australia. The JSE could also benefit from a ratings reprieve for SA after the market’s close on Friday. Moody’s Investors Service did not release a scheduled report on the country’s sovereign cre...
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