JSE faces mixed Asian markets on Wednesday as investors ponder US Fed policy
All eyes are on the Jackson Hole symposium later this week, which may contain further details on paring back monetary policy stimulus
The JSE looks set to contend with mixed Asian markets on Wednesday morning, with markets watching the US for any details on monetary policy changes.
Central bankers are set to gather for the Jackson Hole symposium to discuss big questions, and it may be used as a platform to detail just how the US Federal Reserve plans to taper a $120bn a month bond-buying programme, without causing too much volatility in the market.
US markets were at record highs overnight, but in morning trade Asian markets were mixed, while Tencent was flat.
The Shanghai was up 0.34%, the Hang Seng was down 0.36%, and Japan’s Nikkei was flat.
Gold was trading 0.42% lower at $1,794.50/oz while platinum had fallen 0.67% to $1,004.77. Brent crude was 0.65% lower at $70.68 a barrel.
The rand was 0.27% weaker at R15.02/$.
Producer inflation numbers for July are due later, while in corporate news drugmaker Adcock Ingram is expected to release its results for the year to end-June later, though it has not issued a recent trading update.
DRDGold, one of the world’s largest gold tailings retreatment companies, is due to report its results for the year to end-June later, saying in a recent trading update that revenue was up more than a quarter as it benefited from high prices.
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