Soaring JSE may get Naspers bump as China cuts rates again

2022-01-20 08:45:00 AM

Soaring JSE may get Naspers bump as China cuts rates again

Soaring JSE may get Naspers bump as China cuts rates again

Tech giant Tencent had risen almost 5% on Thursday, after China’s central bank lowered lending rates

Karl GernetzkyPicture: 123RF/SOLAR SEVENThe JSE, which closed above 76,000 points on Wednesday, may be on track for another positive session on Thursday after the People’s Bank of China cut rates amid concerns of a slowdown in the world’s second-largest economy.

The cut in borrowing costs follows one implemented in December, with China now grappling with the threat of Omicron, prompting strict lockdowns as the country pursues a “zero-Covid-19" approach.Global markets have been fixated on the prospect of rising interest rates in 2022, as fuel prices continue their climb, with oil trading at an eight-year high this week.

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JSE likely to trade lower in line with world marketsThe local bourse is expected to reflect investor angst about higher consumer inflation and possible interest rates increases The way my 5 year old son looks at me with hunger😭💔. I've been struggling to find any employment and we slept hungry for two days now😔. I'm a man and I have my pride, but I'm also a father. Please assist us with mealie meal,we'll eat it with sugar water🙏🏻.

JSE firmer, but trade remains continuesGlobal markets are mixed as investors mull choppy previous session, during which there was a sell-off in tech stocks

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Costs set to soar and consumers will bear the bruntHeadline inflation that’s being stoked by near record-high fuel prices and surging electricity and food costs, may prompt the Reserve Bank to raise its key interest rate on January 27 Investing with williamchurch09 has brought my family so much joy, I've received R25,500 from my little funds i invested and I'm grateful, i advice everyone to invest with 👇👇👇👇 Williamchurch0

20 January 2022 - 07:41 Karl Gernetzky Picture: 123RF/SOLAR SEVEN The JSE, which closed above 76,000 points on Wednesday, may be on track for another positive session on Thursday after the People’s Bank of China cut rates amid concerns of a slowdown in the world’s second-largest economy.19 January 2022 - 08:02 Andries Mahlangu Picture: FREDDY MAVUNDA The JSE is likely to trade lower on Wednesday, reflecting investor angst about higher consumer inflation and possible interest rates increases.19 January 2022 - 11:02 Lindiwe Tsobo The JSE was firmer on Wednesday morning, while its global peers were mixed as investors mulled a choppy previous session, during which there was a sell-off in tech stocks.19 January 2022 - 17:53 Lindiwe Tsobo The JSE tracked firmer US and European markets on Wednesday as a slew of strong US corporate earnings boosted sentiment.

The cut in borrowing costs follows one implemented in December, with China now grappling with the threat of Omicron, prompting strict lockdowns as the country pursues a “zero-Covid-19" approach. Global markets have been fixated on the prospect of rising interest rates in 2022, as fuel prices continue their climb, with oil trading at an eight-year high this week. The yields on the US 10-year paper hit their highest level in two year at about 1. Lower interest rates often benefit tech shares, increasing the relative value of future earnings, and in morning trade Hong Kong-listed Tencent was up 4..66%. The rand changed hands to the dollar at R15. The Hang Seng had risen 2..

33% and Japan’s Nikkei 1.16% on the day and backing away from its two-month high R15. Already subscribed? Simply sign in below.33%, while the Shanghai Composite had added a more modest 0.23%. The key area of focus for the markets is no longer if, but by how much, the US Federal Reserve will increase rates to counter inflation, which reached a 42-year high on an annual basis in December. Gold was flat at $1,839.23/oz, while platinum had risen 0. Higher interest rates in the US and developed markets more broadly could destabilise the rand via capital outflows.

13% to $1,024, having jumped 4% on Wednesday. Brent crude was 0. “Companies that have high debt will have to pay more on their interest bill and this will affect earnings,” said Gregory Katzenellenbogen, senior portfolio manager at Sanlam Private Wealth.66% higher at $88.24 a barrel, having risen more than 13% so far in 2022, with the International Energy Agency upping its forecast for demand on Wednesday, and warning that demand looks set to outstrip supply.32 a barrel. In early trade, the rand was 0.

22% firmer at R15.295/$, extending a 1% gain in the prior session. The JSE had closed above 76,000 points on Wednesday, lifted by Richemont, which added 5% after its third-quarter update beat expectations. Data, however, also showed that i nflation. as measured by the annual change in Stats SA’s consumer price index (CPI), hit 5.

9% in December, faster than expected, and fuelling speculation that SA will see an interest rate increase later in January. .