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Chinese data helps pare JSE losses

Dec 14 2012 18:39
I-Net Bridge
Johannesburg – The JSE pared losses in late trade on Friday to finish flat after positive Chinese economic news and better than expected US inflation figures lifted market sentiment.

In China‚ the HSBC flash PMI continued to improve‚ rising to 50.9 in December‚ above expectations and showing further signs of improvement in domestic demand.

At 17:00‚ the All Share [JSE:J203] index closed flat (-0.01) at 38 674.48 points‚ with the Top 40 - (Tradeable) [JSE:J200] index also flat (-0.03%) at 34 277.21 points‚ with miners leading the downside due to profit taking after a good run this week‚ while banks made fair gains.

“We had a quiet day on the JSE‚ but saw a bit of a turnaround after a good Chinese data print and US industrial production figures advanced by a better than expected 1.1% in November‚” a local trader said.

“CPI out of the US was lower than expected so the FED’s very accommodative monetary policy is appropriate‚” he added.

At 17:17pm local time the Dow Jones Industrial index was flat (-0.02%).
equities  |  jse  |  markets  |  stocks

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