Tradewise Report

on . Posted in Investment general

The Nikkei Index climbed to a fresh six-month high on Tuesday, as strong earnings from the likes of Nissan Motor Co suggested Corporate Japan has managed to weather a recent rise in the national sales tax. Nissan jumped 4.5 percent and was the second-most traded stock by turnover after the automaker's April-June operating profit rose a higher-than-expected 13.4 percent to 122.6 billion yen ($1.20 billion).
The Hang Seng Index climbed higher on Tuesday from its best close in more than 3-1/2 years on spill over from improving views of the Chinese economy. Stocks related to Shanghai's Free Trade Zone outperformed, ahead of a new law to provide a legal basis for reform measures in the pilot zone which is to take effect on August 1.
According to Reuters, European stocks edged lower on Monday, with unspectacular U.S. data and new European sanctions against Moscow offsetting strong earnings updates from firms like Ryanair and spin-off talk from Reckitt Benckiser.
Wall Street stocks slipped on Monday as weak data on the housing market and services sector gave the latest indications that economic conditions were getting worse, taking the S&P 500 below a key support level. Investors found few reasons to buy because the data followed some high-profile disappointments in earnings, including from Amazon.com and Caterpillar last week.
Business Day reports that the JSE All Share Index closed higher on Monday, just below previous record levels. as gold and banking shares pushed the market higher. The ending of a strike in the metals industry in South Africa also supported positive sentiment. The gold index gained 2.02% despite a lower gold price but helped by a slightly weaker rand. Banks were up 1.61%. with industrials gaining 0.88%, mainly on strong performances by Naspers and Remgro. Financials firmed 0.75%.
The Rand is trading weaker at R10.5723 against the US Dollar, with the Euro quoted at R14.2009 and the British Pound at R17.9142
The gold price last traded at $1305.05, with the platinum price quoted at $1,479.25, while the palladium price is trading at $876.30
Brent was last trading slightly lower at $107.44 a barrel.