JSE preview: Wednesday is shopping day for JSE
The MSCI Asia Pacific Index rose 0.81% to 131.75 points on Tuesday, taking it over the 130.6 points it reached before its sharp Brexit crash on 24 June.
Tokyo’s Topix index was up 1.14% and its Nikkei 225 0.98% ahead of the JSE’s opening. Hong Kong’s Hang Seng index was 0.52% higher and the Shanghai Composite index was up 0.36%.
The JSE’s all share index closed 0.72% higher at 52,548 points on Tuesday, leaving it just 2% short of the 53,586 it reached on June 23 before the Brexit crash.
The resources rally, which saw Anglo American adding 4% on Tuesday after Monday’s 7.7% jump, showed no signs of abating on Wednesday. BHP Billiton was 2.76% higher at A$20.48 in Sydney ahead of the JSE’s opening, helping the Australian Security Exchange’s S&P/ASX 200 gain 0.53%.
Wednesday looks to be a busy day for retailers.
Statistics SA is scheduled to release May’s trade sales figures at 1pm. The consensus from a poll of economists is it will decelerate to 1.4% from April’s 1.5% from the same month the previous year.
Retailers Shoprite and Woolworths may release operational updates on Wednesday, Dow Jones said in its corporate diary for SA. It predicted based on when the retailers released their trading updates in 2015.
Shoprite closed 2.29% higher at R169.64 and Woolworths 0.61% at R82.50 on Tuesday.
Similarly, Naspers and African Oxygen are expected to release trading statements around this time of year.