The JSE took its cue from China on the first trading
day of 2018, with the top 40 index up 0.5% and the all share index up
0.35% at 9.30am.
Hong Kong’s Hang Seng index rallied 1.9% and mainland China’s Shanghai and Shenzhen composite indices both gained about 1.3% after the country’s Caixin manufacturing purchasing managers’ index (PMI) beat forecasts.
The Chinese survey of factory managers rose to 51.5 points in December from 50.8 in November, beating the consensus expectation of a dip to 50.6 from a poll done by Trading Economics.
A health check of South African factories is scheduled at 11am when the Absa-sponsored PMI for December done by Stellenbosch University’s Bureau of Economic Research is scheduled for release.
November’s PMI was 48.6 points, under 50 which indicates SA’s manufacturing sector is shrinking.
The JSE’s top gainer on Tuesday morning was Steinhoff International which was up 12% to R5.20 at 9.40am.
Steinhoff issued a statement saying it would issue its delayed results for the year to end-September "as soon as reasonably practicable".
The second best performing constituent of the top 40 was Mediclinic International, which gained 2.3% to R108.79.
Decliners included Growthpoint properties, which was down 2.82% to R26.88; and MTN, which fell 1.91% to R133.99.
Businesslive
Hong Kong’s Hang Seng index rallied 1.9% and mainland China’s Shanghai and Shenzhen composite indices both gained about 1.3% after the country’s Caixin manufacturing purchasing managers’ index (PMI) beat forecasts.
The Chinese survey of factory managers rose to 51.5 points in December from 50.8 in November, beating the consensus expectation of a dip to 50.6 from a poll done by Trading Economics.
A health check of South African factories is scheduled at 11am when the Absa-sponsored PMI for December done by Stellenbosch University’s Bureau of Economic Research is scheduled for release.
November’s PMI was 48.6 points, under 50 which indicates SA’s manufacturing sector is shrinking.
The JSE’s top gainer on Tuesday morning was Steinhoff International which was up 12% to R5.20 at 9.40am.
Steinhoff issued a statement saying it would issue its delayed results for the year to end-September "as soon as reasonably practicable".
The second best performing constituent of the top 40 was Mediclinic International, which gained 2.3% to R108.79.
Decliners included Growthpoint properties, which was down 2.82% to R26.88; and MTN, which fell 1.91% to R133.99.
Businesslive
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