|
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 29 May 2019
South Africa
The JSE was set for its worst month in over 10 years as it ended lower on Tuesday afternoon following poor performances posted by banks, general retailers and the constant threat brought about by the ongoing US-Sino trade war. Shortly after the closing bell, the All Share lost 0.12%.
United States
US stocks traded higher on Tuesday supported by a strong performance from the technology sector but fears of the financial impact of a prolonged trade war between Washington and Beijing capped gains. At 18h00, the Dow had gained 0.16%.
Europe
Fears over a looming fine on heavily-indebted Italy as a result of the country’s widening budget deficit weighed on risk sentiment, dragging European shares in the process. At 18h15, the pan-European Stoxx 600 lost 0.22%.
Hong Kong
Recuperating from the previous session’s biggest four-month drop, shares in Hong Kong ended higher on Tuesday but a sombre mood among investors trimmed gains on the back of uncertainty over trade and economic growth. At 18h25, the Hang-Seng gained 0.34%.
Japan
A stellar performance by US markets boosted investor sentiment on Tuesday, pushing the Nikkei towards a near one-week high. At the closing bell, the Nikkei had gained 0.37%.
Rand
The rand continued on a downward spiral to reach a two-month low on Tuesday afternoon as political uncertainty weighed on the currency after President Cyril Ramaphosa announced that there would be a delay in composing his new cabinet. At 18h30, the rand traded at R14.72 against the dollar.
Precious metals
Gold prices dropped on Tuesday as the gold market struggled for direction amid a strengthened dollar environment. At 18h45, spot gold was down trading at $1 279.99 an ounce.
Oil
Constricted global supply pushed oil prices higher on Tuesday while Opec-led supply disruptions in the Middle East helped ease concerns over the impact of the US-Sino trade war and contributed towards the firming of oil prices. At 19h00, a barrel of Brent crude was trading at $72.57.
The JSE was set for its worst month in over 10 years as it ended lower on Tuesday afternoon following poor performances posted by banks, general retailers and the constant threat brought about by the ongoing US-Sino trade war. Shortly after the closing bell, the All Share lost 0.12%.
United States
US stocks traded higher on Tuesday supported by a strong performance from the technology sector but fears of the financial impact of a prolonged trade war between Washington and Beijing capped gains. At 18h00, the Dow had gained 0.16%.
Europe
Fears over a looming fine on heavily-indebted Italy as a result of the country’s widening budget deficit weighed on risk sentiment, dragging European shares in the process. At 18h15, the pan-European Stoxx 600 lost 0.22%.
Hong Kong
Recuperating from the previous session’s biggest four-month drop, shares in Hong Kong ended higher on Tuesday but a sombre mood among investors trimmed gains on the back of uncertainty over trade and economic growth. At 18h25, the Hang-Seng gained 0.34%.
Japan
A stellar performance by US markets boosted investor sentiment on Tuesday, pushing the Nikkei towards a near one-week high. At the closing bell, the Nikkei had gained 0.37%.
Rand
The rand continued on a downward spiral to reach a two-month low on Tuesday afternoon as political uncertainty weighed on the currency after President Cyril Ramaphosa announced that there would be a delay in composing his new cabinet. At 18h30, the rand traded at R14.72 against the dollar.
Precious metals
Gold prices dropped on Tuesday as the gold market struggled for direction amid a strengthened dollar environment. At 18h45, spot gold was down trading at $1 279.99 an ounce.
Oil
Constricted global supply pushed oil prices higher on Tuesday while Opec-led supply disruptions in the Middle East helped ease concerns over the impact of the US-Sino trade war and contributed towards the firming of oil prices. At 19h00, a barrel of Brent crude was trading at $72.57.
Our daily update
Yesterday we took a look at the latest General Household Survey (GHS) results and focused on the languages spoken in South Africa by race group both inside and outside of the house. In South Africa as a whole the language spoken most inside the house is isiZulu, with English only ranking as the 5th most spoken language inside homes, however when looking at the langauge spoken most outside the house, English is the second most spoken language in South Africa behind isiZulu.
Read the full article here.
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.
The month of May continues to be negative, and this after 4 months of positive returns for the JSE All Share Index. As can be seen from the Calendar chart above the number of red blocks far outnumber the number of green blocks. It has been a pretty miserable month so far on the JSE, and May has wiped out almost half of the returns the market made in the first 4 months of 2019. Seems like sell in May and stay away is holding true.
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