JSE down, waiting for US statement

Johannesburg – The JSE was weaker at midday on Tuesday in trade characterised by light volumes as investors remained on the sidelines ahead of the US Federal Reserve's latest policy statement later in the day.
  
By 12:09 local time the JSE all share index had fallen 0.32%. Gold miners lost 0.39%, resources edged down 1.18% and platinum miners declined 1.28%. Banks rose 0.37%, financials firmed 0.55%, and industrials added 0.13.
   
The rand was bid at 7.22 to the dollar from 7.21 at the JSE's close on Friday. Gold was quoted at $1 195.98 a troy ounce from $1 206.57/oz at the JSE's previous close, while platinum was at $1 534.00/oz from $1 567.00/oz before.
   
A trader said caution prevailed. "Investors were on the sidelines, keeping an eye on the US ahead of the Fed's policy statement later today," the trader said.
   
The local market was mixed, with mining shares losing ground, while other counters such as banks and industrials strengthened.
   
Local markets were closed on Monday for a public holiday.
   
Dow Jones Newswires reported that Asian share markets were mostly lower on Tuesday, with shares in China falling after July trade data showed imports growth slowing more than expected, raising concerns about the country's economic outlook for the rest of the year.
  
Japan's Nikkei Stock Average closed 0.22% lower, and Hong Kong's Hang Seng Index ended 1.50% weaker.
   
European stock markets were lower on Tuesday, as news that China's import growth had slowed more than expected rattles investors' sentiment.

The FTSE 100 was last 0.60% lower.

- I-Net Bridge