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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 inputs in at the end.
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Short summary of PSG's market commentary for 29 November 2019
South Africa
The JSE ended lower on Thursday tracking a decline in global financial markets after Washington fuelled tensions with China by signing a new bill that supports protestors in Hong Kong. At the closing bell, the JSE All Share was down 0.84%.
United States
US markets were closed due to a public holiday.
Europe
European markets fell on Thursday after US president Donald Trump passed new legislation that supports anti-government protesters in Hong Kong. At 18h30, the pan-European STOXX 600 Index lost 0.15%.
Hong Kong
Shares in Hong Kong fell on Thursday after China reproached the US for what it views as “interference in an internal matter” after Trump approved a bill that supports anti-government protestors in Hong Kong. The Hang Seng lost 0.22%.
Japan
Tracking a decline in global markets on Thursday, Japanese shares traded lower as investors feared that the latest standoff between Washington and Beijing might derail trade talk progress. At market close, the Nikkei recorded a loss of 0.12%.
Rand
The rand was flat on Thursday afternoon following the release of Eskom’s interim results and the introduction of lifestyle audits for the power utility’s senior executives as part of its clean-up mission. At 18h15, the dollar was trading at R14.75.
Precious metals
Gold prices rose on Thursday as investors sought safe-haven assets after China vowed to take countermeasures, after the US “interfered in an internal matter”. An ounce of spot gold traded at $1 455.88 at 18h30.
Oil
A rise in US crude and petrol stocks prompted a decline in oil prices on Thursday, while oil traders grew weary of escalating tensions between Washington and Beijing. At 18h40, a barrel of Brent crude fell by 1.36% and traded at $63.32
The JSE ended lower on Thursday tracking a decline in global financial markets after Washington fuelled tensions with China by signing a new bill that supports protestors in Hong Kong. At the closing bell, the JSE All Share was down 0.84%.
United States
US markets were closed due to a public holiday.
Europe
European markets fell on Thursday after US president Donald Trump passed new legislation that supports anti-government protesters in Hong Kong. At 18h30, the pan-European STOXX 600 Index lost 0.15%.
Hong Kong
Shares in Hong Kong fell on Thursday after China reproached the US for what it views as “interference in an internal matter” after Trump approved a bill that supports anti-government protestors in Hong Kong. The Hang Seng lost 0.22%.
Japan
Tracking a decline in global markets on Thursday, Japanese shares traded lower as investors feared that the latest standoff between Washington and Beijing might derail trade talk progress. At market close, the Nikkei recorded a loss of 0.12%.
Rand
The rand was flat on Thursday afternoon following the release of Eskom’s interim results and the introduction of lifestyle audits for the power utility’s senior executives as part of its clean-up mission. At 18h15, the dollar was trading at R14.75.
Precious metals
Gold prices rose on Thursday as investors sought safe-haven assets after China vowed to take countermeasures, after the US “interfered in an internal matter”. An ounce of spot gold traded at $1 455.88 at 18h30.
Oil
A rise in US crude and petrol stocks prompted a decline in oil prices on Thursday, while oil traders grew weary of escalating tensions between Washington and Beijing. At 18h40, a barrel of Brent crude fell by 1.36% and traded at $63.32
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Our daily update
The extract below comes from the latest Tourism satellite accounts publication as published by Statistics South Africa
The tourism sector directly employed 739 657 persons in 2018, an increase of 8,5% or 58 038 employees compared with 2017. The tourism share of total employment increased from 2017 (4,2%) to 2018 (4,5%). The year 2018 saw 15 004 384 non-resident visitors to South Africa compared with 14 975 675 non-resident visitors in 2017 and 15 121 328 non-resident visitors in 2016. Of the 15 004 384 non-resident visitors in 2018, 4 532 279 (or 30,2%) were same-day visitors and 10 472 105 (or 69,8%) were tourists.
For tourism consumption (expenditure), the trends in 2018 (compared with 2017) were:
Tourism exports (inbound tourism expenditure) decreased by 0,8% to R120 037 million compared with a 0,3% decline in the previous period;
Tourism imports (outbound tourism expenditure) increased by 3,5% to R83 673 million compared with 3,0% growth in the previous period;
Domestic tourism expenditure increased by 17,6% to R153 196 million compared with a 9,4% decrease in the previous period; and
Internal tourism expenditure increased by 8,8% to R273 233 million compared with a 5,3% decrease in the previous period. Inbound tourism expenditure totalling R120 037 million was recorded in 2018.
The main expenditure items were 'non-specific products' (22,5%), 'accommodation for visitors' (15,9%), 'connected products' (14,8%) and 'air passenger transport services' (12,9%). Domestic tourism expenditure totalling R153 196 million (including the domestic portion of outbound tourism expenditure) was recorded in 2018. The main expenditure items were 'road passenger transport services' (28,4%), 'air passenger transport services' (15,9%), 'accommodation for visitors' (15,3%) and 'non-specific products' (12,2%). The total internal tourism consumption in cash for South Africa in 2018 was R273 233 million (inbound tourism consumption R120 037 million [43,9%] and domestic tourism consumption R153 196 million [56,1%]). The main expenditure items for internal tourism were 'road passenger transport services' (21,3%), 'non-specific products' (16,7%), 'accommodation for visitors' (15,5%) and 'air passenger transport services' (14,6%).
Read more about South Africa's Tourism industry here
The tourism sector directly employed 739 657 persons in 2018, an increase of 8,5% or 58 038 employees compared with 2017. The tourism share of total employment increased from 2017 (4,2%) to 2018 (4,5%). The year 2018 saw 15 004 384 non-resident visitors to South Africa compared with 14 975 675 non-resident visitors in 2017 and 15 121 328 non-resident visitors in 2016. Of the 15 004 384 non-resident visitors in 2018, 4 532 279 (or 30,2%) were same-day visitors and 10 472 105 (or 69,8%) were tourists.
For tourism consumption (expenditure), the trends in 2018 (compared with 2017) were:
Tourism exports (inbound tourism expenditure) decreased by 0,8% to R120 037 million compared with a 0,3% decline in the previous period;
Tourism imports (outbound tourism expenditure) increased by 3,5% to R83 673 million compared with 3,0% growth in the previous period;
Domestic tourism expenditure increased by 17,6% to R153 196 million compared with a 9,4% decrease in the previous period; and
Internal tourism expenditure increased by 8,8% to R273 233 million compared with a 5,3% decrease in the previous period. Inbound tourism expenditure totalling R120 037 million was recorded in 2018.
The main expenditure items were 'non-specific products' (22,5%), 'accommodation for visitors' (15,9%), 'connected products' (14,8%) and 'air passenger transport services' (12,9%). Domestic tourism expenditure totalling R153 196 million (including the domestic portion of outbound tourism expenditure) was recorded in 2018. The main expenditure items were 'road passenger transport services' (28,4%), 'air passenger transport services' (15,9%), 'accommodation for visitors' (15,3%) and 'non-specific products' (12,2%). The total internal tourism consumption in cash for South Africa in 2018 was R273 233 million (inbound tourism consumption R120 037 million [43,9%] and domestic tourism consumption R153 196 million [56,1%]). The main expenditure items for internal tourism were 'road passenger transport services' (21,3%), 'non-specific products' (16,7%), 'accommodation for visitors' (15,5%) and 'air passenger transport services' (14,6%).
Read more about South Africa's Tourism industry here
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 the month of October 2019 saw the JSE All Share Index end in the green. And the first trading day of November 2019 saw the JSE edge up slightly last week Friday. Can the momentum continue and the "Christmas rally" carry the markets higher in the closing months of 2019? Continued rumors about a trade deal between the USA and China keeps sparking optimism on the markets for a few days and then it dissipates. The JSE All Share Index is up currently down by -0.28% for the month of November 2019
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