JSE. Picture: MICHAEL ETTERSHANK
JSE. Picture: MICHAEL ETTERSHANK

The JSE faces mixed Asian markets on Thursday morning, with US data giving conflicting signals over the state of the US economy and concerns over rising Covid-19 cases.

US jobs data for July was disappointing on Wednesday, but data on services activity for the same month was more upbeat.

There is some optimism in the market, including over US-China trade talks later in August. On the fiscal front, amid the stammering progress, there is light at the end of the tunnel as While House negotiators said they aim to reach a deal on a new coronavirus relief package by the end of the week, said AxiCorp chief global markets strategist Stephen Innes in a note.

In morning trade on Thursday, the Hang Seng was down 1.6%, while the Australian All Ordinaries Index had risen 0.3%.

Tencent, which influences the JSE via Naspers, had slumped 2.6%.

Gold was up 0.32% to $2,044.32/oz, while platinum had risen 0.41% to $961.09. Brent crude was down 0.13% to $45.21 a barrel.

The rand was flat at R17.31/$.

MTN is due to release its interim results to end-June later, and is expected to report a rise in profits amid positive currency gains.

Paper and packaging group Mondi is also due to release its half-year results to end-June later.

gernetzkyk@businesslive.co.za

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