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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 19 June 2019
South Africa
The combination of a strong showing by retailers and banks, a firmer rand and a general sense of calm in global markets lifted the JSE on Tuesday, ahead of risk events later this week. Shortly after the closing bell, the All Share gained 0.75%.
United States
Wall Street pushed higher on Tuesday as the European Central Bank (ECB) reiterated its dovish stance on interest rates, creating hopes of a similar stance from the US Federal Reserve (Fed) that is expected to announce its interest rate decision later today. At 17h50, the Dow had gained 1.35%.
Europe
European stocks rebounded on Tuesday following the ECB’s vow to pump more monetary stimulus if the economy continues to show no signs of improvement in the near future. At 18h00, the pan-European Stoxx 600 gained 1.67%.
Hong Kong
Better-than-expected investment inflows from mainland China boosted Hong Kong shares on Tuesday, after the region’s leader Carrie Lam sincerely apologised for “extradition controversy” and extended protests. At 18h15, the Hang-Seng gained 0.99%.
Japan
The Nikkei struggled for direction and ended up plunging to its lowest level in over a week on Tuesday ahead of the US Fed interest rate decision. At the closing bell, the Nikkei had lost 0.72%.
Rand
The rand had an upper hand against the dollar on Tuesday as global markets kept a close eye on the Fed’s interest rate decision set to be announced later today. At 17h30, the rand traded R14.51 against the dollar.
Precious metals
Gold prices went up on Tuesday amid a weakened dollar environment as investors kept a watchful eye on the developments from the Fed’s two-day monetary policy meeting. At 18h30, spot gold was up trading at $1 347.33 an ounce.
Oil
Easing tensions in the Middle East after last week’s tanker attacks lifted oil prices on Tuesday, amid an escalating US-China trade dispute that continues to threaten global economic growth. At 18h40, a barrel of Brent crude was trading at $62.56
The combination of a strong showing by retailers and banks, a firmer rand and a general sense of calm in global markets lifted the JSE on Tuesday, ahead of risk events later this week. Shortly after the closing bell, the All Share gained 0.75%.
United States
Wall Street pushed higher on Tuesday as the European Central Bank (ECB) reiterated its dovish stance on interest rates, creating hopes of a similar stance from the US Federal Reserve (Fed) that is expected to announce its interest rate decision later today. At 17h50, the Dow had gained 1.35%.
Europe
European stocks rebounded on Tuesday following the ECB’s vow to pump more monetary stimulus if the economy continues to show no signs of improvement in the near future. At 18h00, the pan-European Stoxx 600 gained 1.67%.
Hong Kong
Better-than-expected investment inflows from mainland China boosted Hong Kong shares on Tuesday, after the region’s leader Carrie Lam sincerely apologised for “extradition controversy” and extended protests. At 18h15, the Hang-Seng gained 0.99%.
Japan
The Nikkei struggled for direction and ended up plunging to its lowest level in over a week on Tuesday ahead of the US Fed interest rate decision. At the closing bell, the Nikkei had lost 0.72%.
Rand
The rand had an upper hand against the dollar on Tuesday as global markets kept a close eye on the Fed’s interest rate decision set to be announced later today. At 17h30, the rand traded R14.51 against the dollar.
Precious metals
Gold prices went up on Tuesday amid a weakened dollar environment as investors kept a watchful eye on the developments from the Fed’s two-day monetary policy meeting. At 18h30, spot gold was up trading at $1 347.33 an ounce.
Oil
Easing tensions in the Middle East after last week’s tanker attacks lifted oil prices on Tuesday, amid an escalating US-China trade dispute that continues to threaten global economic growth. At 18h40, a barrel of Brent crude was trading at $62.56
Our daily update
Yesterday we covered the latest JSE trading statistics for the week ended 14 June 2019. Below some of the highlights
Number of trades:
Number of trades (2019): 1 517 456
Number of trades (2018): 1 291 940
% change year on year: 17.46%
Volume traded:
Volume traded (2019): 1 420 247 000
Volume of traded (2018): 2 019 469 000
% change year on year: -29.6%
Value of trades:
Value of trades (2019): R95 738 879 000
Value of trades (2018): R117 289 717 000
% change year on year: -18.3%
Foreign purchase/selling:
Net sales/Purchases (2019): R 2 142 740 000
Net sales/Purchases (2018): -R3 258 559 000
So year to date (YTD) foreigners have been net seller/buyers:
Net sales/Purchases (2019): -R26.04 billion
Net sales/Purchases (2018): R8.45 billion
Read the full article here
Number of trades:
Number of trades (2019): 1 517 456
Number of trades (2018): 1 291 940
% change year on year: 17.46%
Volume traded:
Volume traded (2019): 1 420 247 000
Volume of traded (2018): 2 019 469 000
% change year on year: -29.6%
Value of trades:
Value of trades (2019): R95 738 879 000
Value of trades (2018): R117 289 717 000
% change year on year: -18.3%
Foreign purchase/selling:
Net sales/Purchases (2019): R 2 142 740 000
Net sales/Purchases (2018): -R3 258 559 000
So year to date (YTD) foreigners have been net seller/buyers:
Net sales/Purchases (2019): -R26.04 billion
Net sales/Purchases (2018): R8.45 billion
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 after four very positive months on the markets the month of May bucked the trend and saw half the gains made during the first four months of the year on the JSE wiped out in one month. While the South African Rand has really been struggling the Rand hedges on the JSE has been pushing the local stock market higher. The JSE All share index as a whole is still up 5.3% so far in June 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