JSE could open lower on Friday ahead of US employment data
Global investors expected to trade with caution ahead of US labour market data and Tencent’s 0.7% fall suggests a weak opening for Naspers
The JSE could open slightly lower on Friday as investors globally trade with caution ahead of US labour market data due later in the day. Risk appetite “has turned more sober” after US Federal Reserve chairman Jerome Powell said a rate cut is unlikely while also commenting on the “transient” inflation trajectory of the world’s largest economy, analysts at OCBC Bank said on Friday. Investors now await US nonfarm payroll, unemployment and wage data. Markets were likely to open mixed after US stocks retreated overnight and with Chinese and Japanese markets still closed, OCBC said.
Hong Kong’s Hang Seng index was flat at the lunch break, while South Korea’s Kospi was 0.6% down and Singapore’s main benchmark declined 0.3%. On the other hand, Australia’s main index was up 0.2%...
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