JSE faces mixed markets as Poland attack causes tension
Nico GousThe JSE is facing mixed Asian markets on Wednesday amid new geopolitical tensions after two people were killed in a missile attack in Poland near the border of Ukraine of what is believed to be a Russian-made weapon.
Tencent, which influences the JSE via Naspers and Prosus, dipped by 1.67% and has fallen by 37.59% in 2022. “The government’s recent plan for more targeted restrictions will help the medium-term outlook, but could result in greater near-term economic disruption,” Bank of New Zealand senior market strategist Jason Wong wrote in a note.
The producer price index , a measure of wholesale inflation, rose 0.2% month on month in October, below the market consensus estimate of 0.4%. The report from the US Bureau of Labor Statistics comes less than a week after better-than-expected CPI data, stoking optimism that price pressures could be easing.
US markets were upbeat on Tuesday with the Nasdaq climbing 1.45%, the S&P 500 0.87% and the Dow Jones 0.17%. The Nasdaq has lost 28.26% of its value in 2022, the S&P 500 16.78% and the Dow Jones 8.18%. In local corporate news, hospital group Mediclinic, diversified real estate investment trust Dipula Income Fund , maritime transportation services group Grindrod Shipping , Poland-based real estate group Globe Trade Centre and Investec Property Fund , with an investment portfolio of direct and indirect property assets in SA and Europe, will all release results.
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