JSE faces mostly higher Asian markets on Tuesday
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The JSE faces mixed, but mostly higher, Asian markets on Tuesday morning, with sentiment given a lift by positive comments regarding a new US stimulus deal.
US House speaker Nancy Pelosi signalled she was willing to negotiate over a new package, injecting hope that a political deadlock will be broken.
Offsetting this, the White House has moved to restrict Chinese tech giant Huawei’s access to US technology, sparking concern of an escalation in the trade war between the world’s two largest economies.
In morning trade, the Shanghai Composite was up 0.42%, while Japan’s Nikkei had fallen 0.2%.
Tencent, which influences the JSE via Naspers, had risen 1.86%.
Gold was up 0.26% to $1,990.50/oz, while platinum had risen 0.96% to $961.36. Brent crude was flat at $45.24 a barrel.
The rand was little changed at R17.50/$.
Trade tension between the US and China takes a back seat for now, with the market’s focus remaining on US politics and potential US Federal Reserve action, Peregrine Treasury Solutions executive director Bianca Botes said in a note.
Locally, there is little on the local economic or corporate calendar, though SA has officially moved to level 2 of the government's risk-adjusted strategy, allowing for alcohol and tobacco sales, and interprovincial travel.
gernetzkyk@businesslive.co.za (mailto://gernetzkyky@businesslive.co.za)
US House speaker Nancy Pelosi signalled she was willing to negotiate over a new package, injecting hope that a political deadlock will be broken.
Offsetting this, the White House has moved to restrict Chinese tech giant Huawei’s access to US technology, sparking concern of an escalation in the trade war between the world’s two largest economies.
In morning trade, the Shanghai Composite was up 0.42%, while Japan’s Nikkei had fallen 0.2%.
Tencent, which influences the JSE via Naspers, had risen 1.86%.
Gold was up 0.26% to $1,990.50/oz, while platinum had risen 0.96% to $961.36. Brent crude was flat at $45.24 a barrel.
The rand was little changed at R17.50/$.
Trade tension between the US and China takes a back seat for now, with the market’s focus remaining on US politics and potential US Federal Reserve action, Peregrine Treasury Solutions executive director Bianca Botes said in a note.
Locally, there is little on the local economic or corporate calendar, though SA has officially moved to level 2 of the government's risk-adjusted strategy, allowing for alcohol and tobacco sales, and interprovincial travel.
gernetzkyk@businesslive.co.za (mailto://gernetzkyky@businesslive.co.za)
