The JSE is facing mixed Asian markets, in line with what happened on Wall Street overnight, as investors remain unsure about global economic growth and what central banks will do next.
Japan’s Nikkei gained 0.44%, while markets in mainland China and Hong Kong remain closed for the Lunar New Year holiday.
On home soil, DA members and supporters will march to the ANC’s Luthuli House headquarters in Johannesburg and in Cape Town to protest against ongoing load-shedding as pressure builds on the ruling party and government to keep the lights on and deal with struggling Eskom as it wreaks havoc on SA’s economy.
The JSE closed slightly weaker on Tuesday, reversing the session’s earlier gains, while global markets were mixed amid a flurry of quarterly earnings reports from US companies.
The JSE all share slipped 0.11% to 80,037.01 points and the top 40 eased 0.1%, led by industrial metals, resources and precious metals, which fell 2.12%, 1.28%, 1.25% and 0.35%, respectively.
Meanwhile, local markets are bracing for the SA Reserve Bank’s interest rate decision on Thursday, with a hike expected.
US markets ended with mixed screens on Tuesday. The Dow Jones climbed 0.31%, while the S&P 500 was flat and the Nasdaq ended 0.27% lower.
Business activity in the US private sector continued to contract in early January, though at a slower pace than in December.
The price of all commodities dipped, with gold trading 0.49% lower at $1,927.91/oz, platinum 0.06% at $1,055.38 and Brent crude 0.06% at $86.42 a barrel.
The rand depreciated by 0.46% against the dollar, trading at R17.19/$.
No corporate or economic releases are expected on Wednesday.
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