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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 9 January 2019
South Africa
The JSE followed in the footsteps of most global markets by closing up on Tuesday due to easing trade tensions. At the end of business, the All Share was 0.40% higher and the Top 40 0.52%.
United States
Major US indexes opened Tuesday in the green in hopes that the global economic superpowers will reach an agreement and put an end to market trade friction. Reuters reported that both sides seemed optimistic about reaching a conclusion.
EuropeEuropean markets enjoyed a positive Tuesday on hopes the US and China might reach a deal leading to positive market sentiment. At the close of trade, the STOXX 600 was 0.87% in the green.
Hong Kong
While the Hang Seng managed to rise somewhat on Tuesday as the world’s two largest economies resumed trade negotiations, Chinese shares slipped. At 19h10, the Hang Seng traded 0.10% up, and the Shanghai had lost 0.26%.
Japan
Japanese indices also enjoyed a good Tuesday as global trading sentiment picked up in the hope of a Sino trade deal being struck. At 19h00, the Nikkei had moved up to 0.90%.
Rand
Although the rand broke the R14/$ barrier, the greenback strengthened again on Tuesday in light of the US-China trade negotiations easing tension. At 18h40, the rand traded R13.97 to the dollar.
Precious metals
The bullion market lost some ground on Tuesday as the dollar recovered on hopes of a trade deal between the US and China. At 18h45, an ounce of gold cost $1 284.55.
Oil
Oil prices increased on Tuesday due to the trade negotiations and to OPEC possibly extending supply cuts. At 19h15, Brent crude cost $58.38 per barrel.
The JSE followed in the footsteps of most global markets by closing up on Tuesday due to easing trade tensions. At the end of business, the All Share was 0.40% higher and the Top 40 0.52%.
United States
Major US indexes opened Tuesday in the green in hopes that the global economic superpowers will reach an agreement and put an end to market trade friction. Reuters reported that both sides seemed optimistic about reaching a conclusion.
EuropeEuropean markets enjoyed a positive Tuesday on hopes the US and China might reach a deal leading to positive market sentiment. At the close of trade, the STOXX 600 was 0.87% in the green.
Hong Kong
While the Hang Seng managed to rise somewhat on Tuesday as the world’s two largest economies resumed trade negotiations, Chinese shares slipped. At 19h10, the Hang Seng traded 0.10% up, and the Shanghai had lost 0.26%.
Japan
Japanese indices also enjoyed a good Tuesday as global trading sentiment picked up in the hope of a Sino trade deal being struck. At 19h00, the Nikkei had moved up to 0.90%.
Rand
Although the rand broke the R14/$ barrier, the greenback strengthened again on Tuesday in light of the US-China trade negotiations easing tension. At 18h40, the rand traded R13.97 to the dollar.
Precious metals
The bullion market lost some ground on Tuesday as the dollar recovered on hopes of a trade deal between the US and China. At 18h45, an ounce of gold cost $1 284.55.
Oil
Oil prices increased on Tuesday due to the trade negotiations and to OPEC possibly extending supply cuts. At 19h15, Brent crude cost $58.38 per barrel.
Our daily rant..
So slowly everyone is getting back from their holidays and back into the swing of things. A million facebook, instagram and facebook posts about kids going to primary and high school for the first time. All happy and bright eyed. Well we wish all was as rosy in South africa, but the 107th celebration of the ANC leaves one with a bad taste in the mouth. President Cyril Ramaphosa's praising of former President Jacob Zuma makes one wonder if Cyril is actually just a pupper of Zuma and acting on his behalf? And if he is actually serious about ridding his government of corruption when he sings the praises of someone that stands accused of almost 800 charges of corruption, fraud, racketeering etc.
So while the kids enter school with big smiles and high hopes, their parents have to wonder what is happening to this country and its political parties. And with elections in 2019 approaching we predict a lot of race baiting and parties looking to take political cheap shots before the elections in a divide and conquer strategy that all the parties hope will get them into parliament and into the driving seat of SA. Hold on and buckle up. Its going to be a tough year.
So while the kids enter school with big smiles and high hopes, their parents have to wonder what is happening to this country and its political parties. And with elections in 2019 approaching we predict a lot of race baiting and parties looking to take political cheap shots before the elections in a divide and conquer strategy that all the parties hope will get them into parliament and into the driving seat of SA. Hold on and buckle up. Its going to be a tough year.