JSE faces mostly flat Asian markets as US results roll in
All eyes are on the US election, with the outcome still uncertain, though the market seems to be pricing in a win for incumbent Donald Trump
The JSE faces mostly flat Asian markets on Wednesday morning, with all eyes on the US election results.
There are signs the market is pricing in a win for incumbent US President Donald Trump, Axi chief global markets strategist Stephen Innes said in a note, including strength for the dollar, and lower US treasury yields.
“That is basically the opposite of what we saw when Trump tested positive for Covid-19,” Innes said.
In morning trade, the Hang Seng and Shanghai Composite were little changed, while Japan’s Nikkei added 1.95%.
Gold was down 0.58% to $1,897.22/oz while platinum fell 0.5% to $863.06. Brent crude was up 1.25% to $40.66 a barrel.
The rand slipped 1.26% to R16.26/$.
Tencent, which influences the JSE via Naspers, fell 1.76%.
There is little on the local corporate or economic calendar on Wednesday, with focus instead on the US election results.
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