|
Related Topics |
|
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.
|
|
Short summary of PSG's market commentary for 11 November 2019
South Africa
The JSE tracked global markets lower on Friday after conflicting narratives from the US-China trade talks weighed on sentiment and prompted investors to trade cautiously. At the closing bell, the JSE All Share lost 1.51%.
United States
Wall Street indices plunged on Friday after US President Donald Trump denied reports of agreeing to phase out trade tariffs on Chinese goods. Shortly after the JSE closed, the Dow lost 0.17%.
Europe
European markets lost steam on Friday following mixed signals from the US-China trade talks which sparked fresh concerns over the duration of the trade war. Shortly after the JSE closed, the FTSE 100 lost 0.60%.
Hong Kong
Hong Kong stocks fell sharply on Friday after Trump dismissed reports that he had agreed to reverse tariffs on Chinese goods, denting optimism that had boosted global markets for the most part of the week. The Hang Seng closed 0.70% in the red.
Japan
Despite concerns over conflicting narratives from the US-China trade negotiations, Japanese shares rose to a 13-month high on Friday on optimism over a growing economy. At close of trade, the Nikkei recorded a 0.26% gain.
Rand
The local currency weakened against the dollar on Friday after Eskom reintroduced stage 2 load shedding on Thursday evening, adding to concerns about the power utility’s ability to get its house in order. At 18h30, a dollar traded at R14.81.
Precious metals
Gold prices rose on Friday on trade war uncertainty as investors sought safe investments. This comes after Trump denied agreeing to reverse any trade tariffs on Chinese imports. An ounce of spot gold traded at $1 465.18 at 18h30.
Oil
Rising US crude inventories and conflicting narratives from the US and China weighed on global commodities like Brent crude on Friday as investors expressed concern over the effects of a prolonged trade war. At 18h45, a barrel of Brent crude was down 1.17% and traded at $61.90.
The JSE tracked global markets lower on Friday after conflicting narratives from the US-China trade talks weighed on sentiment and prompted investors to trade cautiously. At the closing bell, the JSE All Share lost 1.51%.
United States
Wall Street indices plunged on Friday after US President Donald Trump denied reports of agreeing to phase out trade tariffs on Chinese goods. Shortly after the JSE closed, the Dow lost 0.17%.
Europe
European markets lost steam on Friday following mixed signals from the US-China trade talks which sparked fresh concerns over the duration of the trade war. Shortly after the JSE closed, the FTSE 100 lost 0.60%.
Hong Kong
Hong Kong stocks fell sharply on Friday after Trump dismissed reports that he had agreed to reverse tariffs on Chinese goods, denting optimism that had boosted global markets for the most part of the week. The Hang Seng closed 0.70% in the red.
Japan
Despite concerns over conflicting narratives from the US-China trade negotiations, Japanese shares rose to a 13-month high on Friday on optimism over a growing economy. At close of trade, the Nikkei recorded a 0.26% gain.
Rand
The local currency weakened against the dollar on Friday after Eskom reintroduced stage 2 load shedding on Thursday evening, adding to concerns about the power utility’s ability to get its house in order. At 18h30, a dollar traded at R14.81.
Precious metals
Gold prices rose on Friday on trade war uncertainty as investors sought safe investments. This comes after Trump denied agreeing to reverse any trade tariffs on Chinese imports. An ounce of spot gold traded at $1 465.18 at 18h30.
Oil
Rising US crude inventories and conflicting narratives from the US and China weighed on global commodities like Brent crude on Friday as investors expressed concern over the effects of a prolonged trade war. At 18h45, a barrel of Brent crude was down 1.17% and traded at $61.90.
Advertisement (and yes South Africans can buy from Amazon as they deliver to SA)
Our daily update
On Friday we covered the report covering South Africa's biggest industrial development zone (IDZ). Below a short extract of that article.
The Coega Special Economic Zone is the largest Industrial Development Zone (IDZ) in Southern Africa. It was designated in 2001 and became South Africa’s first IDZ. It is located in the Nelson Mandela Bay Metropolitan Municipality in the Eastern Cape province and it is strategically located on the east-west trade route to service both African and global markets. The Coega IDZ leverages public-sector investment to attract foreign and domestic direct investment in the manufacturing sector with an export orientation. The IDZ has attracted investment in the agro-processing, automotive, aquaculture, energy, metals, logistics and business process services sectors. This has advanced socioeconomic development in the Eastern Cape region through skills development, technology transfer and job creation.
Statistics South Africa (Stats SA) partnered with the Coega Special Economic Zone to conduct a survey of the zone’s tenants. The main objectives of the study were to determine:
Read the full article here
The Coega Special Economic Zone is the largest Industrial Development Zone (IDZ) in Southern Africa. It was designated in 2001 and became South Africa’s first IDZ. It is located in the Nelson Mandela Bay Metropolitan Municipality in the Eastern Cape province and it is strategically located on the east-west trade route to service both African and global markets. The Coega IDZ leverages public-sector investment to attract foreign and domestic direct investment in the manufacturing sector with an export orientation. The IDZ has attracted investment in the agro-processing, automotive, aquaculture, energy, metals, logistics and business process services sectors. This has advanced socioeconomic development in the Eastern Cape region through skills development, technology transfer and job creation.
Statistics South Africa (Stats SA) partnered with the Coega Special Economic Zone to conduct a survey of the zone’s tenants. The main objectives of the study were to determine:
- number of employees;
- value of imports and exports;
- expenditure on investments; and
- employment levels per skills category.
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.
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? So the hard work of the first few trading days of November 2019 was basically wiped out by two negative days towards the end of last week. The JSE All Share Index is up slightly, 0.36% 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