JSE could get a boost from upbeat Chinese on Monday

Purchasing managers’ index beat market expectations and rose to a five-month high in August, helping to lift Asian marketsSome optimism over the US-China trade war and upbeat Chinese economic data lifted Asian stocks on Monday morning, boosting chances that the JSE will extend last week’s 2.34% rise.

There is also some optimism over the US and China returning to the negotiating table, despite the imposition by the US of a 15% duty on $110bn worth of Chinese goods at the weekend.A flurry of local and international economic releases are due this week, including SA’s second-quarter GDP numbers on Tuesday, and US nonfarm payrolls numbers on Friday.The rand was flat at R15.2196/$. Gold had added 0.37% to $1,525.93/oz and platinum 0.25% to $938.40. Brent crude was flat at $59 a barrel.

The insurer is involved in a battle with its former CEO Peter Moyo, who is challenging the group’s decision to fire him. Services and trading group Bidvest, which recently acquired a controlling share in drugmaker Adcock Ingram, is expected to release its results for the year to end-June. The company has not issued a trading statement.

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