JSE All-share index hits record high
Johannesburg - The All-share index hit a lifetime
high in early trade on Tuesday, as commodity firms such as Impala Platinum
Holdings [JSE:IMP] ticked higher, tracking gains in global equities after
upbeat economic growth data in China.
By 07:37 GMT, the All Share [JSE:203] index, the broadest
measure of South African stock market performance, was up 0.65% at 33 422 29,
above its previous record of 33 334.55 set 11 months ago.
“Last year was a nothing year so a lot of money has been
sitting on the sidelines. It’s January, a lot of money is looking to come into
the market even with worries about Europe,” said Nick Kunze, a head of dealing at
“The reporting season at home and in the United States would
determine if there’s a real momentum behind these gains.”
The All Share index is up nearly 5% so far this year, after
a flat 2011.
The benchmark Top 40 - (Tradeable) [JSE:J200] index was up
0.74% at 29 857.08, still well below its record high of 31.393.10 set last
Shares of commodity companies rose, as the slightly
better-than-expected Chinese economic data convinced investors that resources
will continue to be helped by demand for the world’s No 2 economy.
Diversified miner Anglo American [JSE:AGL] rose 1.4% to
R324.98 and platinum producer Impala Platinum advanced 1.3% to R170.20.
China’s gross domestic product grew at an annual rate of
8.9% in the fourth quarter, its weakest in two-and-a-half years and slowing
from 9.1% in the previous quarter, but it beat expectations for an 8.7% rise.
yeah and it's time to get out, the global crisis wil spread from Europe to China, the third leg, and it will hit Australia and emerging markets big time.
Why is the majority of stocks on JSE closing or closed?
Why is it doing the opposite of what it should do?