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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 rant at the end.
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Short summary of PSG's market commentary for 22 March 2019
South Africa
The JSE dropped on Wednesday as the trade war and awaited US Federal Reserve (Fed) announcement concerned investors. The All Share closed 1.24% in the red on Wednesday, while local markets were closed on Thursday for the Human Rights Day holiday.
United States
Wall Street fell on Wednesday after poor earnings releases, while investors waited for more clarity on the Fed’s interest rate forecasts for the rest of the year. Shortly after the JSE closed the Dow had fallen 0.28%.
Europe
European shares retreated on Wednesday, led by German stocks after a US court verdict linked one of the products from the chemicals producer Bayer to cancer. Shortly after the JSE closed the FTSE 100 was flat, the CAC 40 had lost 0.54% and the DAX 30 dropped to 1.46%.
Hong Kong
Hong Kong shares ended lower on Wednesday as investors remained cautious ahead of the Fed’s policy decision later in the evening. The Hang Seng index closed 0.50% weaker.
Japan
The Nikkei made small gains on Wednesday as investors waited for the outcome of the Fed’s policy review, while Sony and Nintendo tumbled on news that Google is starting a gaming business. The Nikkei ended 0.20% higher.
Rand
The rand gained a bit against major global currencies on Wednesday after the release of positive retail sales data and stable inflation figures. At 18:30 a dollar traded at R14.37.
Precious metals
Gold slipped as the dollar gained ground ahead of a policy decision by the Fed on Wednesday evening. At 18h30 an ounce of gold traded at $1 301.39.
Oil
Oil prices fell on Wednesday, dragged down by concerns about global economic growth as the US-China trade dispute dragged on. Brent crude oil futures were at $68.03 a barrel at 18h30.
The JSE dropped on Wednesday as the trade war and awaited US Federal Reserve (Fed) announcement concerned investors. The All Share closed 1.24% in the red on Wednesday, while local markets were closed on Thursday for the Human Rights Day holiday.
United States
Wall Street fell on Wednesday after poor earnings releases, while investors waited for more clarity on the Fed’s interest rate forecasts for the rest of the year. Shortly after the JSE closed the Dow had fallen 0.28%.
Europe
European shares retreated on Wednesday, led by German stocks after a US court verdict linked one of the products from the chemicals producer Bayer to cancer. Shortly after the JSE closed the FTSE 100 was flat, the CAC 40 had lost 0.54% and the DAX 30 dropped to 1.46%.
Hong Kong
Hong Kong shares ended lower on Wednesday as investors remained cautious ahead of the Fed’s policy decision later in the evening. The Hang Seng index closed 0.50% weaker.
Japan
The Nikkei made small gains on Wednesday as investors waited for the outcome of the Fed’s policy review, while Sony and Nintendo tumbled on news that Google is starting a gaming business. The Nikkei ended 0.20% higher.
Rand
The rand gained a bit against major global currencies on Wednesday after the release of positive retail sales data and stable inflation figures. At 18:30 a dollar traded at R14.37.
Precious metals
Gold slipped as the dollar gained ground ahead of a policy decision by the Fed on Wednesday evening. At 18h30 an ounce of gold traded at $1 301.39.
Oil
Oil prices fell on Wednesday, dragged down by concerns about global economic growth as the US-China trade dispute dragged on. Brent crude oil futures were at $68.03 a barrel at 18h30.
Our daily update
According to the trading statistics released by the JSE for the week ending 15 March 2019, foreigners continue to be net sellers of JSE listed shares. And the value of the net sale of JSE listed shares for the year to date (YTD) compared to last year over the same time period.
So a year ago foreigners were net buyers of SA listed shares to the value of R21.340 billion for the YTD while this year they have been net sellers to the tune of R27.384 billion in the year to date (YTD). A significant swing and a clear sign of sentiment towards South Africa, its stock market and its economy. See the full article here.
- Net sales/Purchases (2019): -R27.384 billion
- Net sales/Purchases (2018): R21.340 billion
So a year ago foreigners were net buyers of SA listed shares to the value of R21.340 billion for the YTD while this year they have been net sellers to the tune of R27.384 billion in the year to date (YTD). A significant swing and a clear sign of sentiment towards South Africa, its stock market and its economy. See 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 last trading day before the public holiday was a extremely negative day on the JSE, with the one day wiping out most of the gains made during the month on the market. And while there overall returns of the JSE All Share so far in 2019 has been positive (as shown by our 2019 Calendar tracker) we are losing out in Dollar terms. 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