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Johannesburg - The JSE began the day static, as investors
digested the gains of yesterday's trade.
A local trader said: "It was a big day yesterday. The
market may have just run a little ahead of itself."
At 09:15 local time, the JSE All Share [JSE:J203] index was
flat (-0.01%). Gold stocks lifted 0.67%, resources gathered 0.11% and platinum
was static (-0.02%).
Banks and industrials both moved down 0.11%, while
financials hovered in flat territory (-0.08%).
The rand was bid at R8.05 to the dollar from R8.03 at the
JSE's close on Tuesday. Gold traded at $1 604.61 a troy ounce from $1 597.62 at
the JSE's previous close, while platinum was quoted at $1 432/oz, from $1
413/oz at the previous close.
The trader said that volume levels were still lacklustre and
might only pick up next week.
Dow Jones Newswires reported that Asian stock markets were
mostly higher on Wednesday as sharp gains in US stocks on Tuesday and a
positive bout of economic data at the start of the new year boosted investor
sentiment. Tuesday's higher commodities prices lifted energy and resources
plays across the region on Wednesday.
Sentiment got a boost from Tuesday's US manufacturing data
for December which beat market expectations, and which added to a string of
positive economic data released over the past few days. Tuesday's gains on Wall
Street also supported the positive mood in Asia after the Dow Jones Industrial
Average rose to its highest level since July and registered the third-biggest
point gain to start a new year in its history.
Caution may resume on Wednesday, with European stock markets
seen opening lower. Bunds and gilts may start mixed.
Meanwhile, the euro, spot gold and oil and copper futures are all lower.
