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PSG daily investment update 13 May 2019
Date: 13 May 2019 Category: Stock Market |
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In our continued efforts to give our readers a broad number of views, opinions and information, we continue to provide PSG's daily market updates and add our own daily rant at the end.
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Short summary of PSG's market commentary for 13 May 2019
South Africa
The JSE tracked global markets on Friday on a path to recovery from sharp losses suffered in the previous session amid risk-off global trade. Shortly after the closing bell, the All Share gained 0.50%.
United States
US stocks traded lower on Friday as investors expressed concerns over the possibility of a prolonged US-China trade war and the bearing it could have on the global economy. At 17h50, Dow Jones futures had lost over 1%.
Europe
European shares traded higher on Friday amid optimism that the US and China might still be able to salvage what’s left of the trade talks, even as a tariff hike on Chinese imports took effect. At 18h00, the pan-European Stoxx 600 gained 0.32%.
Hong Kong
Chinese shares climbed while the yuan strengthened on Friday as the US-Sino trade negotiations continued in an attempt to rescue an ailing trade deal. The Hang Seng ended the day 0.84% in the green.
Japan
The Nikkei continued on a downward spiral for a fifth consecutive day on Friday amid ongoing trade negotiations between the world’s largest economies. At 18h00 on Friday, the Nikkei had lost over 0.20%.
Rand
The rand recorded a stellar performance on Friday afternoon, boosted by improved global sentiment and the general election results. At 18h15, the rand traded R14.34 against the dollar.
Precious metals
Gold prices were on track for a weekly gain on Friday after Washington made good on its promise to hike tariffs on Chinese goods amid crucial trade talks between the two countries. At 18h30, Spot gold was up trading at $1 285.85 an ounce.
Oil
Oil prices went up on Friday, boosted by tighter supply amid ongoing OPEC production cuts and US sanctions on Iran and Venezuela. At 18h45, a barrel of Brent crude was trading at $71.14.
The JSE tracked global markets on Friday on a path to recovery from sharp losses suffered in the previous session amid risk-off global trade. Shortly after the closing bell, the All Share gained 0.50%.
United States
US stocks traded lower on Friday as investors expressed concerns over the possibility of a prolonged US-China trade war and the bearing it could have on the global economy. At 17h50, Dow Jones futures had lost over 1%.
Europe
European shares traded higher on Friday amid optimism that the US and China might still be able to salvage what’s left of the trade talks, even as a tariff hike on Chinese imports took effect. At 18h00, the pan-European Stoxx 600 gained 0.32%.
Hong Kong
Chinese shares climbed while the yuan strengthened on Friday as the US-Sino trade negotiations continued in an attempt to rescue an ailing trade deal. The Hang Seng ended the day 0.84% in the green.
Japan
The Nikkei continued on a downward spiral for a fifth consecutive day on Friday amid ongoing trade negotiations between the world’s largest economies. At 18h00 on Friday, the Nikkei had lost over 0.20%.
Rand
The rand recorded a stellar performance on Friday afternoon, boosted by improved global sentiment and the general election results. At 18h15, the rand traded R14.34 against the dollar.
Precious metals
Gold prices were on track for a weekly gain on Friday after Washington made good on its promise to hike tariffs on Chinese goods amid crucial trade talks between the two countries. At 18h30, Spot gold was up trading at $1 285.85 an ounce.
Oil
Oil prices went up on Friday, boosted by tighter supply amid ongoing OPEC production cuts and US sanctions on Iran and Venezuela. At 18h45, a barrel of Brent crude was trading at $71.14.
Our daily update
So now that the elections are over and the results are in, lets hope South African politicians can set aside their differences and start growing South Africa's economy, to ensure the millions of unemployed gets employed and people are lifted out of poverty. It is desperately needed. On the markets front the JSE had it's worst week in over a year after the Donald Trump administration slapped more tariffs on goods imported from China, this while trade discussions are ongoing, which one can only assume soured trade discussions.
Our JSE All Share index daily performance calendar
Visit our JSE Calendar tracker page for a expanded version of the calendar below
The graphic below provides the daily returns of the JSE All Share Index (J203) on a calendar chart. Provides a great overview of the All share index over the course of the month. It will be updated daily with our daily investment update as received from PSG.
So after 4 consecutive months of positive returns on the JSE All Share Index, the month of May kicked of trading on a positive note. And then Donald Trump striked threatening to raise tariffs on billions worth of goods imported from China. Friday saw a bit of relief for the JSE, but looking at the performance of Asian markets this morning and the direction of US S&P futures it looks like it is going to be a pretty bleak day on the JSE today.
For more on daily market movements see our 2019 Calendar tracker.
But we as South African investors are losing out in Dollar terms. Largely due to continued Rand weakness not only over the short term but over the last couple of years. We continue to advise investors to take money out of South Africa and invest it offshore. Looking for ideas for investments to make? Go read this article
For more on daily market movements see our 2019 Calendar tracker.
But we as South African investors are losing out in Dollar terms. Largely due to continued Rand weakness not only over the short term but over the last couple of years. We continue to advise investors to take money out of South Africa and invest it offshore. Looking for ideas for investments to make? Go read this article