JSE on track for second week of gains
In early trade the all share was down 0.36% but up 0.60% for the week
The JSE was weaker on Friday morning but on track for its second week of gains amid hopes that the spread of the coronavirus will soon peak.
Chinese authorities said on Friday that 5,000 more cases had been reported and more than 100 new deaths were recorded in mainland China by Thursday.
“Global stocks could still see some support on optimism that the virus peak could be later this month, which is still supporting markets. The main catalyst for the case for higher equities remains the promise of global stimulus, but if China’s weakness extends to the second quarter, risk appetite will have trouble driving risky assets higher,” said Oanda market analyst Edward Moya.
Earlier, the Shanghai Composite added 0.38%, Hong Kong’s Hang Seng 0.31% while Japan’s Nikkei 225 was down 0.59%.
At 11.05am, the JSE all share was down 0.36% to 57,628.65 points, but was up 0.60% for the week, and the top 40 was down 0.43%. Banks lost 1.07% and financials 0.46%.
On Friday, Resilient declared an interim dividend of 267.69c in the six months to end-December, which is an increase of 1.63% from the previous period. Its share price was down 0.30% to