Money SA economy
The JSE opened lower on Tuesday, falling in tandem with its global counterparts as investors await the US Federal Reserve's latest policy statement later in the day.
Local markets were playing catch up after markets were closed on Monday for a public holiday. By 9.37am local time the JSE all share index had fallen 0.32%. Gold miners lost 0.07%, resources edged down 1.02% and platinum miners declined 1.47%. Banks rose 0.42% and financials also firmed 0.42%, but industrials were flat. Gold was quoted at $1,198.65/oz from $1,206.57/oz at the JSE's previous close, while platinum was at $1,542.00/oz from $1,567.00/oz before.
A trader said the local market was mixed in the morning session, but had a negative bias. "Mining shares are weaker, dragging the overall market lower. Investors were awaiting the Fed's policy statement later today," the trader said.
Dow Jones Newswires reported that Asian share markets were mostly lower on Tuesday, with shares in China falling after July trade data showed imports growth slowing more than expected, raising concerns about the country's economic outlook for the rest of the year.
European stock markets opened lower on Tuesday, as news that China's import growth had slowed more than expected rattles investors' sentiment.
The FTSE 100 was last 0.22% lower.
