JSE faces mostly firmer Asian markets on Monday
Rising hopes that US political parties will be able to reach a consensus on stimulus lift sentiment
The JSE faces mixed, but mostly higher, Asian markets on Monday morning, with sentiment lifted a little by confirmation that US politicians are still talking about a second stimulus package.
Democrat House leader Nancy Pelosi’s deadline of Tuesday for an agreement that can be enacted before the election has been mostly ignored, said Oanda senior market analyst Jeffrey Halley in a note.
“Markets, for now, are merely relieved that at least the two sides continue to talk,” Halley said.
Chinese GDP numbers for the third quarter earlier on Monday were weaker than expected, though retail spending numbers were upbeat, helping to assuage concerns somewhat over the world’s second-largest economy.
In morning trade Japan’s Nikkei was up 1.2% and the Hang Seng 0.6%, while the Shanghai Composite was down 0.33%.
Tencent, which influences the JSE via Naspers, had gained 0.8%.
Gold was flat at $1,900.51 an ounce while platinum had risen 0.4% to $865.90. Brent crude was little changed at $42.78 a barrel.
The rand was 0.18% firmer at R16.51 a dollar.
Locally, there is little on the corporate or economic calendars, and focus is expected to be offshore.
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