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The JSE was around 0.7% lower in early trade on Wednesday, taking its lead from overseas markets which were also down. Investor nervousness about the strength of the global economic recovery was again a focus for global markets.
At 09.15am local time the JSE all share index had declined 0.69% as resources gave up 0.95% and platinum miners shed 1.3%. However, golds were a bright spot, adding 0.59%. Banks declined 0.79%, financials eased 0.61% and industrials gave up 0.47%. Gold was quoted at $1 194.41/oz from at $1 192.88/oz at the JSE's previous close, while platinum was at $1 511/oz from $1 507.50/oz at the JSE's last close.
Despite a firmer close on Wall Street overnight, when the Dow edged up 57 points or 0.6%, ending a seven-session run of losses, Asian shares were lower Wednesday morning.
The JSE was around 0.7% lower in early trade on Wednesday, taking its lead from overseas markets which were also down. Investor nervousness about the strength of the global economic recovery was again a focus for global markets.
The Dow had given up most of its earlier gains towards the closing bell after weak US ISM service-sector data raised familiar concerns over the US recovery.
Asian shares were mostly lower in choppy trade Wednesday as weak US data renewed concerns about the strength of the global economic recovery, while weaker Chinese stocks weighed on regional sentiment.
On the JSE, Anglo declined R3.66 or 1.34% to R268.65, BHP Billiton shed R2.08 or 1.02% to R202.05 and Sasol fell R4.26 or 1.5% to R277.34.
