Picture: REUTERS/ALY SONG
Picture: REUTERS/ALY SONG

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.

gernetzkyk@businesslive.co.za

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