Tradewise Report

on . Posted in Investment general

The Nikkei share average slipped lower on Tuesday in volatile trade as investors took their profits after the recent rally in the shares of exporters as the Yen slowed down with its weaker trend, but losses were limited on the back of a resilient Wall Street overnight.

The Hang Seng Index in Hong Kong traded lower but in a narrow range on Tuesday, with the shares on mainland China also slipping lower as investors got out of recent outperformers ahead of a flood of initial public offerings (IPOs).

According to Reuters, European markets are expected to open lower on Tuesday, giving back some of the previous session's strong gains on the back of possible new stimulus measures from the European Central Bank (ECB), while the FTSE 100 Index in London is seen putting in a rally after being closed for a holiday yesterday.

Reuters reports that the S&P 500 Index closed at another record high on Tuesday, boosted by financials and biotechnology shares, although the day’s gains were broad enough for each of the 10 primary sectors on the benchmark S&P index to climb higher.

The JSE All Share Index ended 0.47% higher on Monday, with the spotlight on technology group Pinnacle Holdings gaining 43.5% after attempted bribery charges against an executive director were dropped due to insufficient evidence.

The Rand was last trading slightly firmer at R10.7010 against the US Dollar, with the Euro also quoted stronger at R14.1314 but the British Pound is weaker at R17.7195.

The gold price has recovered on some bargain hunting on Tuesday despite a firmer U.S. Dollar, as well as a rally in equity markets limiting the precious metal's appeal as an alternative investment. Gold was last trading at $1,282.85, with the platinum price quoted at $1,420.60, while the palladium price was last trading at the $884.75 level.

Brent was last trading slightly higher at $102.77 a barrel.

Traders Corner

on . Posted in News Flash

US markets closed higher on Monday with the broad S&P 500 Index ending at another record high, with financial and biotechnology shares leading the gainers. Asian markets have slipped lower on some profit taking this morning, with the Nikkei Index down 0.53% and the Hang Seng Index falling by 0.17%. The Rand was last quoted slightly lower at R10.7033 against the US Dollar, while the gold price has climbed about $7 to trade at $1,282.79 an ounce.  US futures are pointing to a lower open at this stage.

Key macro events:

    • China: Conference Board Leading Index
    • US: Durable Goods
    • US: S&P/Case-Shiller Home Price Index
    • US: FHFA House Price Index
    • US: Conference Board Consumer Confidence Index
  • US: Richmond Fed Manufacturing Survey

Tradewise Report

on . Posted in Investment general

Stocks in Tokyo rebounded on Monday, boosted by advances in exporters on the back of a weaker Yen which fell to a seven-month low against the US Dollar after the meeting of central bankers underlined the diverging paths of interest rates in Japan and the United States.

The Hang Seng Index, as well as the Shanghai Composite Index slipped lower on Monday, consolidating after the recent solid gains, while investors also set aside funds for the upcoming initial public offerings (IPOs) starting later this week.

According to Reuters, European markets are expected to open higher on Monday, rebounding from losses suffered the previous trading session after a speech by U.S. Federal Reserve Chair Janet Yellen at the annual gathering of central bankers.

Reuters reports that U.S. markets closed mixed on Friday with both the S&P 500 Index and the Dow Jones Industrial average slipping lower, while the technology-heavy NASDAQ closing in positive territory with investors digesting comments from Federal Reserve chair Janet Yellen over the job market which has not recovered and speculating that the Fed will continue providing support to the economy until it does..

Business Day reports that the JSE All Share Index closed in negative territory on Friday with investors following US Federal Reserve chair Janet Yellen’s long-awaited speech on future monetary policy direction, while concerns over high valuations also lingered.

The Rand was last trading weaker at R10.7111 against the US Dollar, with the Euro quoted stronger at R14.1338 and the British Pound at R17.7073.

The gold price edged lower in Singapore on Monday, trading near its lowest level in two months on the back of a firmer U.S dollar, while the possibility of U.S. interest rates increasing also hurt the precious metal's appeal as a hedge against inflation. Gold was last trading at $1,277.75, with the platinum price quoted at $1,417.10, while the palladium price was last trading at the $880.98 level.

Brent was last trading slightly lower at $102.13 a barrel.

Traders Corner

on . Posted in News Flash

US markets closed lower on Friday with the S&P 500 Index trading just off its record high established on Thursday, while the Dow edged just above the 17 000 points level. Asian markets are trading higher this morning, with the Dow future up 0.44%. The Rand was trading slightly lower at R10.7030/$, with the gold price at $1277.30 an ounce.  UK markets are closed today.

Key macro events:

  • US: New home sales

US: Dallas Fed Manufacturing Survey