The JSE is likely to get off to a mixed start on Thursday after the US Federal Reserve indicated that rate cuts are off the table for the time being. The S&P 500 Index shed 0.8% on Wednesday after the Federal Reserve voted to keep rates unchanged while also recognising that household spending and fixed investment slowed in the first quarter. Analysts at Singapore’s OCBC Bank said on Thursday global risk appetite “may be restrained this morning, and Asian markets are likely to trade with a somewhat more cautious tone today”. The Hang Seng Index was 0.6% up at the lunch break, but Singapore’s main index was 0.5% lower and Australia’s main benchmark was down 0.7%. Tencent, the main asset of JSE-heavyweight Naspers, was up 0.4%. However, JSE-listed mining giant BHP Group was 1.5% down in Australia. Stats SA is due to report manufacturing and electricity data on Thursday, and vehicle sales numbers are also due. Elsewhere, the Bank of England is expected to keep interest rates unchanged,...
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