Load-shedding at home and the US-China trade war abroad means investors are showing little appetite for risky assets
Pressure on the JSE is likely to continue on Tuesday, as local mines and businesses shut down due to electricity cuts, while the threat of the US-China trade war takes the edge off of investor appetite.
Globally, a series of risk events loom, including the US Federal Reserve policy announcement on Tuesday, and British elections on Thursday. Investors have been getting out of risk positions, and are showing little appetite to add to new equity positions before Christmas, said AxiTrader chief Asian markets analyst Stephen Innes in a note.
In morning trade on Tuesday Asian markets were mixed, with Shanghai’s Composite down 0.2% while Japan’s Nikkei was up 0.33%.
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