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Johannesburg - The JSE opened firmer on Thursday in line
with Asian stocks despite weaker manufacturing data out of China.
At 09:09 local time, the JSE All Share [JSE:J203] index was
0.18% higher. Gold miners lifted 0.94%, banks added 0.35%, and financials were
0.25% firmer.
Industrials added 0.19%, while resources gained 0.13%.
Platinum miners fell 0.54%.
The rand was trading at R7.65 to the US dollar, from R7.61
at the JSE's close on Tuesday. Gold was quoted at $1 651.77 a troy ounce from
$1 657 at the JSE's previous close, while platinum was at $1 633/oz from $1
656/oz.
A local trader said it was still early to determine if
markets would sustain the firmer tone going into the day. She noted that US
futures were down. "We'll get a better indication as the day
progresses," she said.
Regional equities in Asia were mostly higher, but sentiment
remained cautious with risk-sensitive currencies like the AU$ taking a hit
after key manufacturing data out of China confirmed a slowdown in the world's
second-largest economy, Dow Jones Newswires reported.
Copper and oil prices also dropped after data showed the
preliminary HSBC China Manufacturing Purchasing Managers Index, a gauge of
nationwide manufacturing activity, fell to 48.1 in March compared with a final
reading of 49.6 in February.
The March reading marks the fifth straight month the index
has been in contractionary territory, signaling extended difficulties for the
nation's manufacturers.
The Nikkei rose 0.4%, the S&P/ASX gained 0.5%, the HSI was up 0.2%, the Kospi fell 0.1%, the Sensex was flat, and the Shanghai Composite rose 0.1%.
