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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 12 September 2019
South Africa
The JSE pushed to a one-month high on Wednesday as investors remained optimistic over the prospect of fresh monetary stimulus. Shortly after the closing bell, the All Share was up by 1.87%.
United States
US stocks traded higher on Wednesday after China suspended import tariffs on certain US goods, easing trade tensions. The Dow was up by 0.39% shortly after the JSE closed.
Europe
European shares surged to a six-week high on Wednesday amid easing trade tensions. Shortly after the JSE closed, the FTSE 100 was up 0.96%, France's CAC 40 rose to 0.44% and Germany's DAX 30 ended 0.74% in the green.
Hong Kong
Hong Kong closed at a six-week high on Wednesday boosted by a stellar performance by the financial and property sectors amid easing trade tensions. The Hang Seng Index closed 1.78% in the green.
Japan
Japanese shares surged on Wednesday as banks continued to benefit from an increase in government bond yields. The Nikkei Index closed 0.96% in the green.
Rand
The rand declined slightly against the dollar on Wednesday as local business confidence declined. Just after the JSE closed, the rand weakened to R14.47/$.
Precious metals
Improved risk appetite boosted by hopes of economic stimulus from key central banks continued to lift the price of gold on Wednesday ahead of the European Central Bank’s (ECB) meeting. At 19h30, an ounce of spot gold traded at $1 495.53.
Oil
US crude stocks plunged as Iraq confirmed that OPEC is contemplating further output cuts. At 19h45, a barrel of Brent crude lost 3.01% and traded at $61.27.
The JSE pushed to a one-month high on Wednesday as investors remained optimistic over the prospect of fresh monetary stimulus. Shortly after the closing bell, the All Share was up by 1.87%.
United States
US stocks traded higher on Wednesday after China suspended import tariffs on certain US goods, easing trade tensions. The Dow was up by 0.39% shortly after the JSE closed.
Europe
European shares surged to a six-week high on Wednesday amid easing trade tensions. Shortly after the JSE closed, the FTSE 100 was up 0.96%, France's CAC 40 rose to 0.44% and Germany's DAX 30 ended 0.74% in the green.
Hong Kong
Hong Kong closed at a six-week high on Wednesday boosted by a stellar performance by the financial and property sectors amid easing trade tensions. The Hang Seng Index closed 1.78% in the green.
Japan
Japanese shares surged on Wednesday as banks continued to benefit from an increase in government bond yields. The Nikkei Index closed 0.96% in the green.
Rand
The rand declined slightly against the dollar on Wednesday as local business confidence declined. Just after the JSE closed, the rand weakened to R14.47/$.
Precious metals
Improved risk appetite boosted by hopes of economic stimulus from key central banks continued to lift the price of gold on Wednesday ahead of the European Central Bank’s (ECB) meeting. At 19h30, an ounce of spot gold traded at $1 495.53.
Oil
US crude stocks plunged as Iraq confirmed that OPEC is contemplating further output cuts. At 19h45, a barrel of Brent crude lost 3.01% and traded at $61.27.
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Our daily update
We covered the latest Trade statistics numbers published by SARS yesterday and below a summary of South Africa's Top 5 export destinations and Top 5 import origins.
Top 5 countries we exported to:
Top 5 countries we exported to:
- China (10.9%)
- Germany (7.4%)
- United Kingdom (6.2%)
- United States (6.0%)
- Japan (4.9%)
- China (18.4%)
- Germany (10.5%)
- United States (7.0%)
- India (5.9%)
- Saudi Arabia (3.7%)
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 up by 2.02% 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 up by 2.02% 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