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Johannesburg - The JSE lifted during its opening session on Thursday, mainly boosted by a recovery in the resources sector, amid some bargain hunting.
At 09:24 local time, the JSE All Share [JSE:J203] index was up 0.55% to 33,616.67 points, with resources gaining 1.01%, platinum miners edging up 0.24% and gold counters climbing 0.55%.
Financials rose 0.27%, while banking stocks were flat (-0.04%) and industrials advanced 0.36%.
The rand was trading at R7.96 to the US dollar, from R8.02 at the JSE's close on Wednesday, while gold was quoted at $1 595.30 a troy ounce from $1 587.37/oz at the JSE's previous close and platinum was at $1 507.20/oz, from $1 489.70/oz at the previous session.
"We are seeing some recovery from the oversold positions, particularly in the resources sector, even though the Chinese trade balance data disappointed. Investors are realising some value at these lower levels," said Devin Shutte, market analyst at stockbrokerage, Newstrading.
Asian markets traded on a soft note on Thursday with Chinese stocks falling after the country posted a wider trade surplus on weak imports, while Europe's debt situation also added pressure, Dow Jones Newswires reported.
Hong Kong's Hang Seng Index was down 0.69% and Japan's Nikkei fell 0.39%.
Economic data from China showed weak growth in April's imports, reflecting a sluggish performance in the world's second-biggest economy. The report showed a 4.9% increase in exports and 0.3% increase in imports, both of which failed to meet economists' expectations.
European stocks opened a little higher, as investors responded to news that the European Financial Stability Facility would disburse funding to Greece for repaying its interest and that Spain plans to rescue Bankia by taking a large stake in the troubled lender.
UK's FTSE 100 index was up 5.21 points to 5,535.26 points at 9:08 local time.
At 09:24 local time, the JSE All Share [JSE:J203] index was up 0.55% to 33,616.67 points, with resources gaining 1.01%, platinum miners edging up 0.24% and gold counters climbing 0.55%.
Financials rose 0.27%, while banking stocks were flat (-0.04%) and industrials advanced 0.36%.
The rand was trading at R7.96 to the US dollar, from R8.02 at the JSE's close on Wednesday, while gold was quoted at $1 595.30 a troy ounce from $1 587.37/oz at the JSE's previous close and platinum was at $1 507.20/oz, from $1 489.70/oz at the previous session.
"We are seeing some recovery from the oversold positions, particularly in the resources sector, even though the Chinese trade balance data disappointed. Investors are realising some value at these lower levels," said Devin Shutte, market analyst at stockbrokerage, Newstrading.
Asian markets traded on a soft note on Thursday with Chinese stocks falling after the country posted a wider trade surplus on weak imports, while Europe's debt situation also added pressure, Dow Jones Newswires reported.
Hong Kong's Hang Seng Index was down 0.69% and Japan's Nikkei fell 0.39%.
Economic data from China showed weak growth in April's imports, reflecting a sluggish performance in the world's second-biggest economy. The report showed a 4.9% increase in exports and 0.3% increase in imports, both of which failed to meet economists' expectations.
European stocks opened a little higher, as investors responded to news that the European Financial Stability Facility would disburse funding to Greece for repaying its interest and that Spain plans to rescue Bankia by taking a large stake in the troubled lender.
UK's FTSE 100 index was up 5.21 points to 5,535.26 points at 9:08 local time.
