US President Donald Trump. Picture: REUTERS/Jonathan Ernst
US President Donald Trump. Picture: REUTERS/Jonathan Ernst

The JSE is likely to open mixed on Thursday as traders await updates on US trade negotiations.

US stocks pushed higher overnight on hopes that the Federal Reserve will cut interest rates, but trade talks with Mexico ended without a resolution on Wednesday.

“Markets will continue to monitor the progress of the negotiations closely, which will resume today,” analysts at OCBC Bank in Singapore said.

“Separately, President Trump is facing more resistance within his own Republican Party on his tariff threat to Mexico. This may give hopes both sides will eventually reach a deal,” OCBC said.

Hong Kong’s Hang Seng Index was 0.2% up on Thursday, while the Shanghai Composite lost 0.5%. Japan’s Nikkei 225 rose 0.2% and Australia’s main benchmark gained 0.5%.

Chinese internet and gaming company Tencent, which is 31% owned by JSE-heavyweight Naspers, declined 0.2% in Hong Kong.

BHP Group fell 1.1% in Australia.

JSE-listed landlord Stenprop is due to publish annual results on Thursday, while Statistics SA is scheduled to release electricity production numbers for April.

The SA Reserve Bank will publish current account data for March. Elsewhere, economic data is due in the EU and the US will release jobless claims figures.

The rand, which has lost ground this week partly on fears the Reserve Bank’s mandate could be changed, was flat on Thursday morning at R14.85/$, R18.85/£, and R16.69/€.

hedleyn@businesslive.co.za