JSE could get a boost from positive US-China trade talks
Asian markets are higher on Tuesday amid reports that US-China trade talks will resume next week
The JSE could get a lift from positive news regarding the US-China trade war, with reports that talks will resume between the two parties providing support for Asian markets on Tuesday morning.
US President Donald Trump joined top US technology industry executives on Monday in a show of solidarity, Dow Jones Newswires reported, as the US moves to ease restrictions on sales to China’s Huawei.
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Chinese markets were somewhat subdued, but at 6.30am SA time Japan's Nikkei was up 1.18%.
Gold had fallen 0.57% to $1,416.32/oz and platinum 0.37% to $844.28. Brent crude was flat at $63.36 a barrel.
Tencent was flat on Tuesday morning, offering little direction to Naspers, which holds a significant stake in the Chinese tech giant.
The focus in SA is on parliament, where a special appropriations bill is expected to be tabled, that will bring forward some of the R230bn in support promised by the government to Eskom over the next 10 years. Making upfront bailouts is expected to help stabilise the embattled power utility’s finances.
Some focus is on the UK, where eurosceptic politician Boris Johnson is widely expected to be announced as the new prime minister.
On the corporate calendar, Kumba Iron Ore is set to report its results for the six months to end-June. The miner reported in July it expected headline earnings per share to rise by 228%-245% from the prior comparative period.