The JSE was firmer on Tuesday morning, while its global peers were mixed as investors awaited key inflation data from the US.
Investors will be closely watching the consumer price index (CPI) later, which is expected to show prices, while still high, are continuing to decelerate.
If the CPI print comes in softer, it will justify the Federal Reserve’s projected 50 basis point interest-rate hike when the policymakers conclude their meeting on Wednesday.
“All eyes will be on the US CPI numbers being released today, as markets anxiously wait to see if they confirm hopes that inflation declined in November. A lower print will pave the way for a less aggressive Fed,” said Citadel Global director Bianca Botes.
At 10.05am, the JSE all share had gained 0.56% to 74,839 points and the top 40 0.52%. Precious metals had added 1.04%, industrials 0.81%, resources 0.48% and industrial metals 0.1%.
Earlier in Asia, the Shanghai Composite was little changed, while Hong Kong’s Hang Seng gained 0.58% and Japan’s Nikkei 0.4%.
At 9.52am, the rand had strengthened 0.18% to R17.5298/$, while it was little changed at R18.4829/€ and R21.5361/£. The euro was up 0.17% to $1.0552.
Gold gained 0.35% to $1,786.69/oz and platinum 1.14% to $1,007.35/oz. Brent crude gained 1.42% to $79.23 a barrel.
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