|
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 13 December 2019
South Africa
Optimism over the possibility of a trade deal between Beijing and Washington boosted the local market on Friday, after US President Donald Trump tweeted that both countries were “pushing to finalise the phase-one deal”. At the closing bell, the JSE All Share gained 1.66%.
United States
Wall Street indices logged gains on Friday ahead of a news briefing by Chinese officials on the progress of the US-China trade negotiations. Shortly after the JSE closed, the Dow went up by 0.49%.
Europe
European shares hit record highs in the previous trading session after the British Conservative Party won the 2019 UK general elections, easing concerns over Brexit. The pan-European STOXX 600 Index gained 1.39%.
Hong Kong
Hong Kong stocks ended lower as persistent concerns about the anti-government protests in the Asian financial hub outweighed enthusiasm of a possible trade deal. The Hang Seng lost 0.65%.
Japan
Japanese shares fell in the previous trading session after peaking at 14-month highs on Friday, following an excellent performance by banks and steelmakers on the back of renewed trade deal optimism. The Nikkei closed 0.29% lower.
Rand
The local currency peaked at a four-month high on Friday as investors across the board cheered the prospect of a US-China trade deal. At 20h15, the dollar was trading at R14.35.
Precious metals
Gold prices remained range-bound on Friday as “a weaker dollar helped offset pressures from an increased appetite for riskier assets,” boosted by trade deal optimism. An ounce of spot gold traded at $1 476.19 at 20h30.
Oil
The price of oil reached its highest level since September on Friday “with a weaker dollar lending support as new OPEC+ oil supply cut starts are due to start in January”. At 20h40 a barrel of Brent crude traded at $65.66.
Optimism over the possibility of a trade deal between Beijing and Washington boosted the local market on Friday, after US President Donald Trump tweeted that both countries were “pushing to finalise the phase-one deal”. At the closing bell, the JSE All Share gained 1.66%.
United States
Wall Street indices logged gains on Friday ahead of a news briefing by Chinese officials on the progress of the US-China trade negotiations. Shortly after the JSE closed, the Dow went up by 0.49%.
Europe
European shares hit record highs in the previous trading session after the British Conservative Party won the 2019 UK general elections, easing concerns over Brexit. The pan-European STOXX 600 Index gained 1.39%.
Hong Kong
Hong Kong stocks ended lower as persistent concerns about the anti-government protests in the Asian financial hub outweighed enthusiasm of a possible trade deal. The Hang Seng lost 0.65%.
Japan
Japanese shares fell in the previous trading session after peaking at 14-month highs on Friday, following an excellent performance by banks and steelmakers on the back of renewed trade deal optimism. The Nikkei closed 0.29% lower.
Rand
The local currency peaked at a four-month high on Friday as investors across the board cheered the prospect of a US-China trade deal. At 20h15, the dollar was trading at R14.35.
Precious metals
Gold prices remained range-bound on Friday as “a weaker dollar helped offset pressures from an increased appetite for riskier assets,” boosted by trade deal optimism. An ounce of spot gold traded at $1 476.19 at 20h30.
Oil
The price of oil reached its highest level since September on Friday “with a weaker dollar lending support as new OPEC+ oil supply cut starts are due to start in January”. At 20h40 a barrel of Brent crude traded at $65.66.
Advertisement (and yes South Africans can buy from Amazon as they deliver to SA)
Our daily update
According to Bloomberg China will provide retaliatory tariff waivers to buyers of U.S farm products. See the extract below
China will provide retaliatory tariff waivers to buyers of U.S. farm products on a more regular basis after the countries reached a phase one trade deal, according to people familiar with the situation. Waivers had previously been given in tranches but they’ll now be handed out more frequently, said the people, who asked not to be identified as the matter is private. China is seeking to secure more agricultural products such as soybeans and pork from overseas to bolster domestic supplies.
Read the full article here
China will provide retaliatory tariff waivers to buyers of U.S. farm products on a more regular basis after the countries reached a phase one trade deal, according to people familiar with the situation. Waivers had previously been given in tranches but they’ll now be handed out more frequently, said the people, who asked not to be identified as the matter is private. China is seeking to secure more agricultural products such as soybeans and pork from overseas to bolster domestic supplies.
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 November so the JSE All Share index end -1.75% in the red. And after the first trading week in December 2019 the JSE All Share index is up by a very strong 2.55% for the month of December 2019 so far.
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