JSE slips after setting new record

Johannesburg - The JSE eased in the opening session on Tuesday after setting a fresh record peak the previous day.

At 9:39am‚ the JSE All Share [JSE:J203] index was down 0.35% at 40‚841.91 points‚ with the Top 40 - (Tradeable) [JSE:J200] index slipping 0.38%.

In the year to date‚ the all share index has risen 4%‚ led by industrial and financial stocks.

After pulling back from record highs achieved last month‚ the all share index may well gain a further 8%-10% from current levels over the next 12 months‚ according to Tom de Lange‚ chief investment offer at Emperor Asset Management.

“The current market valuation indicates that the market is slightly overvalued but not expensive‚” De Lange said.