The JSE could take its lead from subdued Asian markets on Tuesday morning, despite further positive signs in the US-China trade war.

Officials from both sides on Monday suggested a deal was close, with that news following weekend developments including signals from China that it was willing to tighten intellectual property protection, an issue in the conflict.

On the other hand, US Federal Reserve chair Jerome Powell warned on Monday that trade-related uncertainties globally “have been holding back overall economic growth” and reaffirmed commitment to a 2% inflation target, said Peregrine Treasury Solutions treasury manager Bianca Botes in a note.

Asian markets were mixed, with the Hong Kong Hang Seng down 0.1% at 6.15am SA time, while the Shanghai Composite was flat. Japan’s Nikkei gained 0.78%.

Tencent fell 0.5% in Hong Kong, and may influence the direction of Naspers, which is the largest shareholder of the WeChat owner.

Gold was little changed at $1,454.71/oz, while platinum firmed 0.38% to $898.36. Brent crude was up 0.11% to $63.64 a barrel.

The rand was 0.12% firmer at R14.7611/$.

Locally, the Reserve Bank’s leading indicator for September is due, offering a projection of SA’s economic growth prospects for the next 6-12 months.

The indicator declined for the 11th-consecutive month in August, showing that local businesses are holding back on investment, and that the confidence boost that followed President Cyril Ramaphosa’s ascent to the presidency in early 2018 has faded.

In corporate news, chemicals and fertiliser maker Omnia is expected to report headline earnings per share rose as much as 131% in its six months to end-September. The company is struggling with a hefty debt burden.