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Johannesburg - The JSE opened higher on Thursday amid
optimism that the Greek debt problem was one step closer to being resolved. The
local bourse was also tracking Asian markets which rose on Thursday on the back
of hopes of more easing in the US and China.
At 09:07 local time, the JSE All Share [JSE:J203] index was
up 0.37% at 33 716.62 points, with banks adding 0.78%, financials lifting
0.66%, and gold miners picking up 0.56%.
Resources were 0.38% higher, platinum miners edged 0.28% up,
and industrials rose 0.26%.
The rand was at R7.58 to the US dollar, from R7.66 at the
JSE's close on Wednesday. Gold was quoted at $1 688.60 a troy ounce from $1
677.14 at the JSE's previous close, while platinum was at $1 637/oz, from $1
624/oz.
A local trader said that the JSE was tracking Asian stocks
which looked "robust", and that investors were looking for opportunities
to buy.
"It looks as though it will be the trend for the day.
We'll pretty much track international markets for the rest of the day,"
she said.
Asian stocks were higher on Thursday fuelled by growing
optimism that Greece's debt swap would prove successful, while hopes of more
easing from the US Federal Reserve and policymakers in China helped shares
recover from a recent battering, Dow Jones Newswires reported.
As Thursday's deadline approached, investors were cautiously
optimistic that improving participation in a key debt swap for Greece, needed
to keep the debt-laden nation from defaulting, was an indication that the
country's debt restructuring efforts would prove successful.
Japan's Nikkei Stock Average gained 1.6%, Australia's S&P/ASX 200 added 0.5%, South Korea's Kospi Composite rose 0.9%, Hong Kong's Hang Seng Index ticked up 0.9%, while China's Shanghai Composite rose 1.0%.
