Johannesburg - The JSE was weaker across the board in the
opening session on Wednesday‚ amid negative global investor sentiment.
At 09:18 local time‚ the JSE All Share [JSE:J203] index was
down 0.64% at 33‚779.96 points‚ with resources losing 1.19%‚ gold shares
tumbling 2.02% and platinum counters shedding 0.59%.
Financials gave up 0.43%‚ banking stocks were off 0.61% and
industrials were down 0.44%.
The rand was trading at R8.18 to the US dollar‚ from R8.19
at the JSE’s close on Tuesday‚ while gold changed hands at $1 578.42 a troy
ounce from $1 585.98/oz at the JSE’s previous close and platinum was quoted at
$1 430/oz‚ from $1 435.50/oz previously.
“Investors are anxious about the slowdown in China’s
economy. There are reports that the country is running out of options from the
monetary and fiscal point of view to prevent the hard landing in the short to
medium term‚” said Drikus Combrinck‚ portfolio manager at PSG Konsult.
China‚ the world's second-biggest economy‚ will release its
second-quarter gross domestic product on Friday.
European stocks also opened on the back foot‚ with London’s
FTSE 100 index down 0.56%.
Disappointing US corporate results sparked worries about the
second-quarter earnings season‚ amid ongoing concern about the eurozone debt
crisis‚ Dow Jones Newswires reported.
In Asia‚ stock markets were lower‚ with Japan’s Nikkei
average ending the session 0.08% softer‚ while the Hang Seng index slipped
0.21% by 09:18 SA time.