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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 7 March 2019
South Africa
The local bourse surged on broad-based gains, led by a stellar performance by market heavyweight Naspers on Wednesday, with only the resources index under pressure from a sharp decline by BHP. At 18h00, the All Share was 0.72% higher.
United States
Wall Street remained subdued on Wednesday in the absence of new developments on trade negotiations between Beijing and Washington, with investors taking a breather after a solid run in equities since the beginning of the year. At 18h00, the Dow had fallen 0.30%.
Europe
European shares endured a choppy day of trade on Wednesday as poor performance by the auto sector weighed heavily on the markets and dragged investors’ confidence. At 18h00, the pan-European STOXX 600 index was up 0.09%.
Hong Kong
Boosted by optimism that Beijing is set to add more economic stimulus to fix the ailing economy, Hong Kong shares traded higher on Wednesday, while investors kept a close eye on developments in the US-Sino trade negotiations. The Hang Seng ended the day 0.26% higher.
Japan
The Nikkei continued to drop further away from a three-month crest on Wednesday after US shares remained subdued, while investors in the retail sector disregarded reports that North Korea had rebuilt a missile launch site days after a summit between Trump and Jong-un failed to denuclearise the Korean Peninsula. At 18h20, the Nikkei had lost 0.54%.
Rand
The rand weakened against major global currencies on Wednesday with the local markets uninspired by the absence of new developments in the US-China trade talks. At 18h30, the rand traded R14.20 against the dollar.
Precious metals
Gold prices slipped on Wednesday amid a strengthened dollar environment as a higher appetite for riskier assets weakened the appeal of the precious metal. At 18h30, spot gold was trading at $1 286.29 an ounce.
Oil
Oil prices fell on Wednesday as strong output forecasts by US producers outweighed Opec-led efforts to rein in crude production. At 18h35, a barrel of Brent crude was trading at $65.55.
The local bourse surged on broad-based gains, led by a stellar performance by market heavyweight Naspers on Wednesday, with only the resources index under pressure from a sharp decline by BHP. At 18h00, the All Share was 0.72% higher.
United States
Wall Street remained subdued on Wednesday in the absence of new developments on trade negotiations between Beijing and Washington, with investors taking a breather after a solid run in equities since the beginning of the year. At 18h00, the Dow had fallen 0.30%.
Europe
European shares endured a choppy day of trade on Wednesday as poor performance by the auto sector weighed heavily on the markets and dragged investors’ confidence. At 18h00, the pan-European STOXX 600 index was up 0.09%.
Hong Kong
Boosted by optimism that Beijing is set to add more economic stimulus to fix the ailing economy, Hong Kong shares traded higher on Wednesday, while investors kept a close eye on developments in the US-Sino trade negotiations. The Hang Seng ended the day 0.26% higher.
Japan
The Nikkei continued to drop further away from a three-month crest on Wednesday after US shares remained subdued, while investors in the retail sector disregarded reports that North Korea had rebuilt a missile launch site days after a summit between Trump and Jong-un failed to denuclearise the Korean Peninsula. At 18h20, the Nikkei had lost 0.54%.
Rand
The rand weakened against major global currencies on Wednesday with the local markets uninspired by the absence of new developments in the US-China trade talks. At 18h30, the rand traded R14.20 against the dollar.
Precious metals
Gold prices slipped on Wednesday amid a strengthened dollar environment as a higher appetite for riskier assets weakened the appeal of the precious metal. At 18h30, spot gold was trading at $1 286.29 an ounce.
Oil
Oil prices fell on Wednesday as strong output forecasts by US producers outweighed Opec-led efforts to rein in crude production. At 18h35, a barrel of Brent crude was trading at $65.55.
Our daily rant..
Yesterday we updated our South African GDP page and focussed on the relative contribution made by various industries to South Africa's overall GDP. By far the biggest industry in South Africa is the Finance, Real Estate and Business Services Industry. Government the second biggest industry in South Africa's economy and the Trade industry (wholesale, retail and motor trade) rounding out the top 3. The summary below shows the total value and relative size of the various industries in South Africa's economy for 2018.
- Finance, real estate and business services: R640 368 228 613 (22.39%)
- General government services: R478 692 538 116 (16.74%)
- Trade, catering and accommodation: R431 668 773 614 (15.10%)
- Manufacturing: R386 883 873 805 (13.53%)
- Transport, storage and communication: R273 192 556 983 (9.55%)
- Mining and quarrying: R230 514 386 567 (8.06%)
- Personal services: R170 530 340 058 (5.96%)
- Construction: R107 665 136 484 (3.77%)
- Agriculture, forestry and fishing: R74 157 433 156 (2.59%)
- Electricity, gas and water: R65 931 792 241 (2.31%)
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.
Markets have remained relatively flat in recent days with it flip flopping between gains and losses. So far for March 2019 the JSE All Share Index has increased by 0.13%. But a positive return is better than nothing, regardless of how small. However South African investors have been losing out in dollar terms. With the weakening exchange rate, any positive returns made by the JSE All Share is negated when looking at the returns 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