JSE likely to pull back on Thursday
SA’s main bourse is up 2.4% this week, but US-China talks look set to push pause on the trajectory
The JSE, up 2.4% in the week so far, is likely to take a breather on Thursday as investors wait for updates on trade talks between the US and China. After posting strong gains in the week to date, stock markets in the Asia Pacific were mixed on Thursday. The Shanghai Composite was up 0.6%, while equities in Japan and Korea were flat. Stocks in Singapore and Hong Kong fell, with the Hang Seng Index down 0.5% at the lunch break. Tencent, which surged in prior trading days partly on news it was selling bonds to fund growth, was 0.9% down in Hong Kong. The owner of WeChat raised $6bn (R85bn) in a dollar bond sale. Tencent’s decline on Thursday is likely to push Naspers shares lower, since Africa’s largest public company owns 31% of the Chinese technology conglomerate. BHP Group, the third-largest constituent of the JSE’s top 40 index, was 1.1% down in Australia.
No major financial results are expected on the JSE on Thursday, as the reporting season winds down. Stats SA is schedule...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.