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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 9 September 2019
South Africa
The local market ended the week in the green, having gained 0.60% in the past week on the back of US-China trade optimism. The JSE All Share closed up 0.21% at 55 591.09 points.
United States
US indices opened higher on Friday, lifted by weak non-farm payroll data (raising US rate cut expectations) as well as China’s stimulus plan for its weakening economy. Shortly after the JSE closed, the Dow had gained 1.30% and stood at 26 808.53 points.
Europe
European markets closed Friday slightly higher as weak German and US economic data were offset by optimistic investor sentiment around China’s plan to boost bank lending. The STOXX 600 closed 0.32% up.
Hong Kong
On Friday, Asian shares reported their biggest weekly gains since June as China’s cabinet announced that they would implement ”both broad and targeted cuts in the reserve requirement ratio (RRR) for banks in a timely manner.” At the closing bell, the Hang Seng was 0.71% in the green at 26 690.76 points.
Japan
Upbeat US data, the scheduling for the US-Sino trade negotiations and a weak yen increased risk-on trade in Japan on Friday. The benchmark Nikkei ended up 0.54%.
Rand
The local currency recorded the best weekly performance in about three months on Friday due to positive economic releases and optimistic trade war reports. At 17h45, a dollar traded at R14.75.
Precious metals
Bullion prices lost its footing slightly on Friday as it fell by 1%; this after upbeat comments from Federal Reserve Chair Jerome Powell offset worse-than-expected US non-farm payrolls. At 17h45, an ounce of gold $1 520.81.
Oil
Oil prices rose on Friday after Powell said that “the central bank will act, as appropriate, to sustain an economic expansion in the world’s biggest economy that has been pressured by uncertainty over global trade.” At 17h45, Brent crude traded at $61.20 per barrel.
The local market ended the week in the green, having gained 0.60% in the past week on the back of US-China trade optimism. The JSE All Share closed up 0.21% at 55 591.09 points.
United States
US indices opened higher on Friday, lifted by weak non-farm payroll data (raising US rate cut expectations) as well as China’s stimulus plan for its weakening economy. Shortly after the JSE closed, the Dow had gained 1.30% and stood at 26 808.53 points.
Europe
European markets closed Friday slightly higher as weak German and US economic data were offset by optimistic investor sentiment around China’s plan to boost bank lending. The STOXX 600 closed 0.32% up.
Hong Kong
On Friday, Asian shares reported their biggest weekly gains since June as China’s cabinet announced that they would implement ”both broad and targeted cuts in the reserve requirement ratio (RRR) for banks in a timely manner.” At the closing bell, the Hang Seng was 0.71% in the green at 26 690.76 points.
Japan
Upbeat US data, the scheduling for the US-Sino trade negotiations and a weak yen increased risk-on trade in Japan on Friday. The benchmark Nikkei ended up 0.54%.
Rand
The local currency recorded the best weekly performance in about three months on Friday due to positive economic releases and optimistic trade war reports. At 17h45, a dollar traded at R14.75.
Precious metals
Bullion prices lost its footing slightly on Friday as it fell by 1%; this after upbeat comments from Federal Reserve Chair Jerome Powell offset worse-than-expected US non-farm payrolls. At 17h45, an ounce of gold $1 520.81.
Oil
Oil prices rose on Friday after Powell said that “the central bank will act, as appropriate, to sustain an economic expansion in the world’s biggest economy that has been pressured by uncertainty over global trade.” At 17h45, Brent crude traded at $61.20 per barrel.
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Our daily update
We covered the latest weekly market wrap from Peregrine Treasury Solutions this morning. Below the extract pertaining to their view of the week ahead.
THE WEEK AHEAD
As always, a close eye should be kept on the global environment, with focus mainly being directed toward a few key elements
Read the full article here
THE WEEK AHEAD
As always, a close eye should be kept on the global environment, with focus mainly being directed toward a few key elements
- Trade dynamics
- Global growth expectations; and
- Brexit
Read the full article 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.
While the month of August was negative by -1.73% lets see what the month of September holds for the South African stock market.
For the month of September 2019 so far the JSE All Share Index is dup 0.61% for this period.
There are continued and growing concerns about a global slow down largely driven by the trade ware between the US and China. Continued tariffs by the US on Chinese goods and the retaliation by China by raising tariffs on US goods keeps hurting markets and global economic growth, as the world's two biggest economies continue to stand off in this trade war.
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 the month of September 2019 so far the JSE All Share Index is dup 0.61% for this period.
There are continued and growing concerns about a global slow down largely driven by the trade ware between the US and China. Continued tariffs by the US on Chinese goods and the retaliation by China by raising tariffs on US goods keeps hurting markets and global economic growth, as the world's two biggest economies continue to stand off in this trade war.
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