Tradewise Report

on . Posted in Investment general

The Nikkei Index climbed over 0.8% higher to reach a two-week high on Tuesday on the back of strong U.S. housing data, while a weaker Yen supported risk appetite in the shares of exporters such as SoftBank Corp and Panasonic Corp.

The market on mainland China traded slightly lower on Tuesday due to weakness in the financial and insurance sectors, while the Hang Seng Index in Hong Kong also traded flat to lower with investor preferring to be cautious ahead of earnings.

According to Reuters, European markets are expected to open higher on Tuesday, after closing higher yesterday, reversing Friday’s losses, with investors feeling better over easing geopolitical tensions from Ukraine and Iraq.

Reuters reports that U.S. markets jumped higher on Monday, with the technology-heavy NASDAQ Composite ending at a 14-year high on the back of increasing homebuilder confidence, as well as signs that tensions between Russia and Ukraine were receding, which prompted investors to take on more risk in the equity market.

Business Day reports that the JSE All Share Index ended 0.61% higher on Monday with early morning focus on Capitec Bank, after Moody’s downgraded the unsecured lender on Friday on the deteriorating local economy but investor sentiment was still bullish on the back of positive economic data out of the US which showed that the recovery in the world’s largest economy was gathering momentum.

The Rand was last trading weaker at R10.6105 against the US Dollar, with the Euro quoted softer at R14.1712 and the British Pound at R17.7132.

The gold price reversed a two-day decline in Singapore trade on Tuesday as geopolitical tensions and fund inflows boosted the appeal of the precious metal as a safe-haven asset, but the advance was limited by strength in equities and the US Dollar. Gold was last trading at $1,300.37, with the platinum price quoted at $1,446.40, while the palladium price was last at the $890.60 level.

Brent was last trading slightly lower at $101.85 a barrel.