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Johannesburg - The JSE opened slightly lower on Monday, tracking weaker Asian markets following disappointing Chinese economic data.
At 09:20 local time, the JSE All Share [JSE:J203] index was down 0.18% to 33 866.07 points, with platinum miners losing 0.45%, and resources slipping 0.11%.
Gold miners picked up 0.12% but financials lost 0.17% and industrials were 0.20% in the red. Banks were 0.18% softer.
The rand was trading at R7.55 to the US dollar, from R7.54 at the JSE's close on Friday. Gold was quoted at $1 704.95 a troy ounce from $1 684.57 at the JSE's previous close, while platinum was at $1 678/oz, from $1 651/oz.
"If one sifts through the Chinese trade balance data, imports topped estimates, which is positive for commodities, while exports grew at a slower pace. I would not be particularly concerned about these figures," said Viv Govender, market analyst at Vunani Private Clients Services.
Asian stock markets were weaker on Monday, starting a fresh week on a tentative footing as weak data in China and underlying concerns over Greece's debt restructuring efforts undercut the positive tone set by the strong US jobs data last week, Dow Jones Newswires reported.
China posted a $31.48bn trade deficit for February after reporting a $27.28bn surplus in January, stoking worries about growth prospects in Asia's biggest economy.
As a result, European stocks are expected to start slightly lower.
Wall Street futures are lower after US stocks hung on to book modest gains on Friday.
At 09:20 local time, the JSE All Share [JSE:J203] index was down 0.18% to 33 866.07 points, with platinum miners losing 0.45%, and resources slipping 0.11%.
Gold miners picked up 0.12% but financials lost 0.17% and industrials were 0.20% in the red. Banks were 0.18% softer.
The rand was trading at R7.55 to the US dollar, from R7.54 at the JSE's close on Friday. Gold was quoted at $1 704.95 a troy ounce from $1 684.57 at the JSE's previous close, while platinum was at $1 678/oz, from $1 651/oz.
"If one sifts through the Chinese trade balance data, imports topped estimates, which is positive for commodities, while exports grew at a slower pace. I would not be particularly concerned about these figures," said Viv Govender, market analyst at Vunani Private Clients Services.
Asian stock markets were weaker on Monday, starting a fresh week on a tentative footing as weak data in China and underlying concerns over Greece's debt restructuring efforts undercut the positive tone set by the strong US jobs data last week, Dow Jones Newswires reported.
China posted a $31.48bn trade deficit for February after reporting a $27.28bn surplus in January, stoking worries about growth prospects in Asia's biggest economy.
As a result, European stocks are expected to start slightly lower.
Wall Street futures are lower after US stocks hung on to book modest gains on Friday.
