Shares tumbled in Hong Kong as the Covid-19 situation in mainland China dashed hopes of a possible reopening
The JSE is facing lower Asian markets, which are bracing for the latest inflation data from the US later on Thursday and digesting new Covid-19 cases and lockdowns in mainland China.
Shares tumbled in Hong Kong as the Covid-19 situation in mainland China dashed the hope of a possible reopening and dragged down market sentiment. “US midterm election results have been rolling in and the outcome might not be known for several weeks. The Republican party hasn’t done as well as the pre-election polls suggested, making the race much tighter than expected,” Bank of New Zealand senior market strategist Jason Wong said in a note. “While the outcome looks much closer than expected, it is still probably in line with the policy gridlock scenario the market has been anticipating,” he said.
The rand depreciated by 0.23% against the dollar, trading at R17.81 on Thursday morning. The rand has lost 11.63% against the greenback so far in 2022. The group expects core headline earnings per share for the period to be 1%-5% or 5c-23c higher than the 46c previously.that it expects earnings for the fourth quarter to be higher than those of the unprecedented levels achieved in the third.
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