JOHANNESBURG - How will the JSE start trade on Tuesday?
The JSE is experiencing mixed morning trade as stronger resource stocks offset tech-driven losses, with the Top 40 index currently shedding 1.6 percent to the 15,233 level.
A resurgent, resilient rand continues to shield local equities against severe geopolitical sell-offs stemming from escalating US-Iran and Russia-Ukraine tensions.
The resource sector has opened firmer, benefiting from the sustained demand for precious and base metals.
Heavily weighted Prosus is experiencing drag tracking the bearish sentiment over Tencent. The local currency is proving surprisingly resilient against geopolitical risk, hovering at stronger levels and relieving pressure on the SARB.
Focus will firmly be on the SA Reserve Bank’s Monetary Policy Committee (MPC), which will release its interest rate decision on Wednesday.
Joining us for the market update is Meryl Pick from Old Mutual Investment Group.