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The JSE faces mostly weaker Asian markets on Monday morning, and could be in store for a turbulent week with both the US Federal Reserve and Reserve Bank set to announce policy decisions in coming days.

US markets suffered their worst losses since the onset of the pandemic last week, hit by some disappointing earnings reports and expectations interest rates will be rising as soon as March.

Markets have also been pricing in a rate increase in SA in January that has helped support the rand, which was little changed at R15.07/$ on Monday morning, but having strengthened more than 5% so far this year.

Consumer inflation in SA accelerated to 5.9% in December, data showed last week, a five-year high, and approaching the top of the Reserve Bank’s 3%-6% target band.

In morning trade the Shanghai Composite added 0.2%, while the Hang Seng lost 0.9% and Japan’s Nikkei 0.18%.

Tencent was down 1.77%.

Gold was 0.13% higher at $1,836.62/oz while platinum rose 0.34% to $1,032.51. Brent crude was 1.38% higher at $88.63 a barrel.

There is little on the local corporate or economic calendar on Monday, though ASX-listed diversified miner South32 has released a production report for its second quarter to end-December, indicating that operating margins across the group have benefited from elevated commodity prices.



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