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Johannesburg - The JSE was straight into red territory on Monday morning amid some profit taking, following a 300-point
gain on Friday.
By 09:18 local time, the JSE all share index dipped 0.15%, with resources 0.25% weaker, and gold miners off 0.54%.
Platinum miners bucked the trend, adding 0.49%.
Financials declined a fraction by 0.06%, banks dropped 0.07% and industrials were also slightly lower by 0.08%.
The rand was trading at R7.03 to the dollar, unchanged from R7.03 at the JSE's close on Friday. Gold was quoted at US$1 351.84 a troy ounce from $1 344.09/oz at the JSE's previous close, while platinum was at $1 828.50/oz from $1 826.50/oz before.
A local dealer noted that the early drop on the local bourse was somewhat of a surprise, given sentiment elsewhere. "I was expecting a firmer start this morning, but we did see a good run on Friday afternoon.
"Overseas is looking better and commodities are firmer, so we might see the JSE rise later in the day," he said.
Dow Jones Newswires reports that Asian stock markets were mixed on Monday, with the Shanghai market falling ahead of the Chinese new year holidays next week.
Japan's Nikkei Stock Average rose 0.7% and South Korea's Kospi Composite was up 0.6%.
The Shanghai Composite Index was down 0.4%, while Hong Kong's Hang Seng Index fell 0.3%.
Many investors were treading carefully ahead of the US Federal Reserve's policy announcement on Wednesday, while concerns about further policy tightening from Beijing continued to weigh on sentiment, after the state-run China Securities Journal said in a commentary on Friday that the first rate hike this year could be around the lunar new year holidays in early
February.
Shares in China fell as strong cash demand ahead of the week-long holidays kept investors from buying stocks.
European stocks are expected to open higher, following modest gains in Asia, says Capital Spreads.
It sees the FTSE 100 up 17 points at 5 913. Markets could also be lifted by a slew of eurozone economic data, with manufacturing and services PMIs at 09:00 GMT, expected to be well above 50, showing that the eurozone continues to maintain its industrial expansion. Potentially adding to the recent trend of positive manufacturing data will be industrial new orders data at 10:00 GMT. They are expected to show a rise of 0.5% month on month and 2.6% year on year.
gain on Friday.
By 09:18 local time, the JSE all share index dipped 0.15%, with resources 0.25% weaker, and gold miners off 0.54%.
Platinum miners bucked the trend, adding 0.49%.
Financials declined a fraction by 0.06%, banks dropped 0.07% and industrials were also slightly lower by 0.08%.
The rand was trading at R7.03 to the dollar, unchanged from R7.03 at the JSE's close on Friday. Gold was quoted at US$1 351.84 a troy ounce from $1 344.09/oz at the JSE's previous close, while platinum was at $1 828.50/oz from $1 826.50/oz before.
A local dealer noted that the early drop on the local bourse was somewhat of a surprise, given sentiment elsewhere. "I was expecting a firmer start this morning, but we did see a good run on Friday afternoon.
"Overseas is looking better and commodities are firmer, so we might see the JSE rise later in the day," he said.
Dow Jones Newswires reports that Asian stock markets were mixed on Monday, with the Shanghai market falling ahead of the Chinese new year holidays next week.
Japan's Nikkei Stock Average rose 0.7% and South Korea's Kospi Composite was up 0.6%.
The Shanghai Composite Index was down 0.4%, while Hong Kong's Hang Seng Index fell 0.3%.
Many investors were treading carefully ahead of the US Federal Reserve's policy announcement on Wednesday, while concerns about further policy tightening from Beijing continued to weigh on sentiment, after the state-run China Securities Journal said in a commentary on Friday that the first rate hike this year could be around the lunar new year holidays in early
February.
Shares in China fell as strong cash demand ahead of the week-long holidays kept investors from buying stocks.
European stocks are expected to open higher, following modest gains in Asia, says Capital Spreads.
It sees the FTSE 100 up 17 points at 5 913. Markets could also be lifted by a slew of eurozone economic data, with manufacturing and services PMIs at 09:00 GMT, expected to be well above 50, showing that the eurozone continues to maintain its industrial expansion. Potentially adding to the recent trend of positive manufacturing data will be industrial new orders data at 10:00 GMT. They are expected to show a rise of 0.5% month on month and 2.6% year on year.
