JSE faces mixed Asian markets on Friday, but a higher Tencent
The JSE must contend with mixed Asian markets on Friday morning, with Covid-19 infection rates and economic data in focus.
US economic data on Thursday was mixed, with retail sales numbers for June upbeat, while manufacturing and jobs numbers were less positive.
This put the dollar under some pressure, said BK Asset Management MD for foreign exchange strategy Kathy Lien in a note.
“Eventually the greenback gained control but pockets of weakness in the US economy raised concerns about what’s to come as US states roll back reopening measures,” she said.
In morning trade the Shanghai Composite was down 0.51%, while the Hang Seng had added 0.57%.
Tencent was up 2.5%, and often gives direction to Naspers, its largest single shareholder and SA’s most valuable company by market capitalisation.
Gold was flat at $1,798.33/oz while platinum had risen 0.3% to $824.46/oz. Brent crude fell 0.16% to $43.22 a barrel.
The rand was 0.2% firmer at R16.70/$.
Locally, the economic calendar is bare on Friday, while agribusiness focused Zeder Investments and services group PSG are set to hold annual general meetings.
Globally, eurozone inflation numbers for June are due.
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