JSE set for a mixed start on Friday as vote count trickles in
Traders to keep a close eye on election results and news of higher US tariffs on Chinese goods
SA’s largest stock exchange is likely to open mixed on Friday, with the ANC expected to have won SA’s elections by a narrower margin than before and as investors digest the news that the US has raised tariffs on Chinese goods. With about 75% of voting stations counted, the ANC had 57.2% of the national vote, versus 62.2% in 2014. Analysts have said that a comfortable win for the governing party would boost stocks and the rand. Meanwhile, global markets were mixed on Friday after the US and China failed to reach a trade deal, meaning higher US tariffs on Chinese goods kicked in. “Market trading may be choppy today,” analysts at OCBC Bank in Singapore said earlier on Friday. “Global risk appetite is understandably soft,” OCBC said. Hong Kong’s Hang Seng index was 0.6% up on Friday, and the Shanghai Composite gained 1.5%. But Japan’s Nikkei 225 was down 1% and Korean and Australian stocks were marginally lower. Chinese technology and gaming giant Tencent was 1.5% up in Hong Kong, sugge...
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