The JSE looks set to open weaker on Tuesday as Asian stocks stumble partly on news that Chinese factory activity has grown slower than expected. The country’s official manufacturing purchasing managers index (PMI) was at 50.1 for April, versus consensus of 50.5, analysts at IG Group said. IG said traders will also be cautious ahead of a holiday in many Asian markets on Wednesday, adding that investors will keep an eye on the US, where Apple’s results are due later in the day and the Federal open market committee is scheduled to meet. Further, US-China trade talks resume today in Beijing. A resolution is expected imminently. While SA’s data calendar is light — bar a scheduled trade balance release — a number of releases are due elsewhere, including pending home sales, wage data and consumer confidence in the US, European GDP growth data for the first quarter, and consumer inflation numbers from Germany. Hong Kong’s Hang Seng Index, Australia’s main benchmark and Korea’s Kospi were al...
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