|
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 4 July 2019
South Africa
The JSE closed slightly lower on Wednesday, in cautious trade as investors waited for US non-farm payrolls data to be released on Friday. The ALSI fell 0.13%.
United States
Wall Street rose on Wednesday as expectations grew that the US Fed could be more dovish after data provided more evidence of a slowing economy. US markets closed early on Wednesday and will be closed on Thursday.
Europe
Eurozone shares surged yesterday as investors hoped European Central Bank chief nominee Christine Lagarde will maintain the ECB’s dovish stance. The pan European STOXX 600 was up by 0.90%.
Hong Kong
Hong Kong shares ended weaker on Wednesday as investors reconsidered their initial enthusiasm over a truce in the trade dispute between Washington and Beijing. The Hang Seng index closed down by 0.07%.
Japan
Japanese stocks were lower after the close on Wednesday, as losses in the various sectors led the market down. The Nikkei lost 0.53%.
Rand
The rand was weaker against the dollar on Wednesday afternoon as global growth prospects continued to monopolise the spotlight. At 20h00, a dollar traded at R14.05.
Precious metals
Gold prices rose on Wednesday on concerns about global growth and as the latest nominations to major central banks reinforced the expectation of monetary policy easing. An ounce of spot gold traded at $1 418.45 at 20h15.
Oil
Oil prices rebounded slightly on Wednesday after Opec and its allies’ decision to extend output cuts was not enough to counter investors’ concerns about the slowing global economy. At 20h15, a barrel of Brent crude traded at $64.37.
The JSE closed slightly lower on Wednesday, in cautious trade as investors waited for US non-farm payrolls data to be released on Friday. The ALSI fell 0.13%.
United States
Wall Street rose on Wednesday as expectations grew that the US Fed could be more dovish after data provided more evidence of a slowing economy. US markets closed early on Wednesday and will be closed on Thursday.
Europe
Eurozone shares surged yesterday as investors hoped European Central Bank chief nominee Christine Lagarde will maintain the ECB’s dovish stance. The pan European STOXX 600 was up by 0.90%.
Hong Kong
Hong Kong shares ended weaker on Wednesday as investors reconsidered their initial enthusiasm over a truce in the trade dispute between Washington and Beijing. The Hang Seng index closed down by 0.07%.
Japan
Japanese stocks were lower after the close on Wednesday, as losses in the various sectors led the market down. The Nikkei lost 0.53%.
Rand
The rand was weaker against the dollar on Wednesday afternoon as global growth prospects continued to monopolise the spotlight. At 20h00, a dollar traded at R14.05.
Precious metals
Gold prices rose on Wednesday on concerns about global growth and as the latest nominations to major central banks reinforced the expectation of monetary policy easing. An ounce of spot gold traded at $1 418.45 at 20h15.
Oil
Oil prices rebounded slightly on Wednesday after Opec and its allies’ decision to extend output cuts was not enough to counter investors’ concerns about the slowing global economy. At 20h15, a barrel of Brent crude traded at $64.37.
Our daily update
Yesterday we covered the latest trade statistics numbers published by the South African Revenue Service (SARS) for May 2019. Below the top 5 export destinations for South African goods as well as the top 5 import origins for goods imported into South Africa during May 2019.
Exports
The top 5 export destinations for South African exports during May 2019:
So just over 10% of South Africa's exports in May 2019 headed to China, with just over 7% heading to the United Sates.
Imports
The top 5 import origins in South Africa during May 2019:
Almost 20% of South Africa's imports came from China, 9.1% from Germany (most cars and machinery and equipment), and 7.3% of South Africa's imports came from the USA.
Read more about South Africa's Trade data here
Exports
The top 5 export destinations for South African exports during May 2019:
- China (11.0%)
- United States (7.2%)
- Germany (6.8%)
- United Kingdom (6.1%)
- Japan (5.4%)
So just over 10% of South Africa's exports in May 2019 headed to China, with just over 7% heading to the United Sates.
Imports
The top 5 import origins in South Africa during May 2019:
- China (18.5%)
- Germany (9.1%)
- United States (7.3%)
- India (4.9%)
- Nigeria (4.6%)
Almost 20% of South Africa's imports came from China, 9.1% from Germany (most cars and machinery and equipment), and 7.3% of South Africa's imports came from the USA.
Read more about South Africa's Trade data 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 South African stock market is still up substantially for the year, with the only negative months so far being the month of May in which markets pulled back pretty sharply. But the markets rebounded in June with it ending up close to 5% for the month. So far for July 2019, the market is slightly down at -0.32% in the first three trading days of the 2nd half of 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