JSE poised for mixed start on Friday as Richemont reports results
Investors remain concerned about US-China trade tensions while luxury goods company Richemont is expected to report a rise in full-year revenue
SA stocks could open mixed on Friday as simmering trade tensions between the world’s largest economies keeps investor confidence in check. A trade dispute between the US and China took a turn for the worse this week after China retaliated to higher tariffs and US President Donald Trump signed an executive order to ban Chinese telecommunications giant Huawei from the US market. Meanwhile, the Wall Street Journal reported on Thursday that China’s commerce ministry said it was unaware that trade talks between the two countries would resume, contradicting US assurances. “From where we’re standing, it seems as though a mutually beneficial, amicable resolution to the continuous trade dispute remains out of reach,” Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions, said on Friday. Hong Kong’s Hang Seng index was 0.8% down on Friday and the Shanghai Composite slipped 1.5%. Korea’s Kospi was flat and Australia’s main benchmark gained 0.7%. Tencent, which reported bette...
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.