The JSE was subdued on Monday morning, failing to benefit from global market sentiment bolstered by positive manufacturing data from China.

China's Caixin purchasing managers' index  rose to its fastest pace in nearly three years in November giving Asian stocks a boost on Monday morning.

Locally, the Absa manufacturing PMI fell to 47.7 points in November from 48.1 in October, data showed on Monday.

Earlier, the Shanghai Composite was up 0.13%, Hong Kong's Hang Seng  0.37% and Japan's Nikkei 225 1.01%.  In Europe, the FTSE 100 added 0.64%, France's CAC 40 0.51% and Germany's DAX 0.53%. 

Markets are monitoring developments in the US-China trade war after President Donald Trump signed a legislation supporting Hong Kong pro-democracy protesters last week.

“The demand for constant updates on the trade talks doesn't appear to be subsiding, although that may change as attention shifts elsewhere throughout the week. A deal looks no closer to being achieved and if reports over the weekend are to be believed — that China wants the full removal of existing tariffs — I don't expect it to be wrapped up any time soon,” Oanda senior market analyst Craig Erlam said.

At 10.50am, the JSE all share and the top were flat with the all share at 55,385.9 points. Banks were down 0.6% and financials 0.59%. 

Vukile Property Fund said on Monday that it expects distribution growth of up to 5% in the year to end-March. Its interim dividend increased 3.5% to 80.84c in the six months to end-September. Its share price was up 1.27% to R19.95.

Hyprop was down 2.27% to R57.60. The property company said on Monday that it expects distributable income per share to decrease between 10% and 13% in the year to end-June 2020.