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Johannesburg - The JSE opened little changed in thin trade on Tuesday, as investors took profits off the table following a strong run over the past few sessions. Resources counters fell the hardest, despite firmer commodity prices, indicating caution, a trader said.
By 09:26 local time the JSE all share index was down 0.11%, with gold miners falling 1.09%, platinum miners declining 0.38% and resources shedding 0.29%. Banks lost 0.30% and financials slipped 0.14%, while industrials (up 0.09%) were relatively flat.
The rand was bid at R6.65 to the dollar from R6.60 at the JSE's close on Monday. Gold was quoted at $1 414.51 a troy ounce from $1 420.48/oz at the JSE's previous close, while platinum was at $1 766.00/oz from $1 782.00/oz before.
Trade is still very thin. "There are not a lot of buyers. At the same time, there is a lack of sellers," the trader said, noting that volumes are expected to pick up from next week as more market participants return to work after the holiday season.
Dow Jones Newswires reports that Asian stock markets were higher on Tuesday, although the Sydney market was dragged down by the devastating floods in Queensland.
Wall Street's strong start for 2011 set the tone for Asian markets. The Dow Jones Industrial Average rose 0.8% on Monday to hit two-year highs, as improved manufacturing and construction data boosted investors' outlook for the economy.
Japan's Nikkei Stock Average rose 1.65% and in Hong Kong, the Hang Seng was last 0.81% firmer.
European stocks are seen opening mixed on Tuesday, with the FTSE 100, open for business for the first time this year, playing catch-up with European bourses, which made gains on Monday.
By 09:26 local time the JSE all share index was down 0.11%, with gold miners falling 1.09%, platinum miners declining 0.38% and resources shedding 0.29%. Banks lost 0.30% and financials slipped 0.14%, while industrials (up 0.09%) were relatively flat.
The rand was bid at R6.65 to the dollar from R6.60 at the JSE's close on Monday. Gold was quoted at $1 414.51 a troy ounce from $1 420.48/oz at the JSE's previous close, while platinum was at $1 766.00/oz from $1 782.00/oz before.
Trade is still very thin. "There are not a lot of buyers. At the same time, there is a lack of sellers," the trader said, noting that volumes are expected to pick up from next week as more market participants return to work after the holiday season.
Dow Jones Newswires reports that Asian stock markets were higher on Tuesday, although the Sydney market was dragged down by the devastating floods in Queensland.
Wall Street's strong start for 2011 set the tone for Asian markets. The Dow Jones Industrial Average rose 0.8% on Monday to hit two-year highs, as improved manufacturing and construction data boosted investors' outlook for the economy.
Japan's Nikkei Stock Average rose 1.65% and in Hong Kong, the Hang Seng was last 0.81% firmer.
European stocks are seen opening mixed on Tuesday, with the FTSE 100, open for business for the first time this year, playing catch-up with European bourses, which made gains on Monday.
