JSE faces weaker Asian markets on Thursday as Covid-19 fears take hold
The JSE faces weaker Asian markets on Thursday morning amid fears of fresh lockdowns in the US and Europe, where Covid-19 numbers are spiking.
“Global markets trembled [on] Wednesday as a disquietening rise in coronavirus infections shattered investors’ psyche and now pose a clear and present danger to a nestling economic recovery,” said AxiCorp chief global markets strategist Stephen Innes in a note.
In morning trade, Hong Kong’s Hang Seng was down 0.97% and Japan’s Nikkei 0.37%.
Tencent, which gives direction to the JSE via Naspers, its largest single shareholder, had fallen 0.5%.
Gold was up 0.25% to $1,881.40/oz, while platinum had added 0.29% to $870. Brent crude was up 0.38% to $39.17 a barrel.
The rand was flat at R16.35/$.
Global focus on Thursday is on the European Central Bank meeting later.
Locally, building materials group Afrimat is due to report its results for the half-year to end-August later, and said in a recent update it expects profits to rise, partly due to a boost from its iron ore business.
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