The JSE all-share index closing the day at 70 867 from its opening price of 70 942.
On Thursday the South African equity markets saw Universal Partners Ltd. (UPL) being the biggest loser of the day with a -9.09% loss moving from R22.00 to close the day at R20.00, whilst Aveng Ltd. (AEG) saw a 20.00% gain moving from R0.05 to R0.06, making it the biggest winner in the equity market
The Rand did not respond well to the SARB interest rate hike decision and took a knock against the US Dollar on Thursday, moving from R15.50 to R15.65
Gold moved from 1 867.48 USD/oz to close on 1 858.94 USD/oz.
Platinum closed Thursday at 1 051.35 USD/oz from its opening price of 1 061.71 USD/oz
Copper closed on 9 508.50 USD/t from its opening price of 9 421.40 USD/t
Brent Crude moved from 80.28 USD to close on 81.24 USD
The US Dollar Index is currently hovering around 95.80.
Prime Minister Kishida confirmed that the new stimulus package has a size of 79 tln yen.
China is looking into ways to cut taxes and government fees by up to 500 bln yuan.
Treasuries continue to correct from some of the heavy selling pressures this month over rising inflation and fear of aggressive Fed tightening next year abate slightly. Technical have capped the upside in rates for now too. Treasury yields were generally in the green most of the session, with the benchmark 2-year just south of 0.50%, and the 10-year holding in the 1.58% vicinity, while the bond traded narrowly around 1.97%.
Equities: All of the major indexes hit new historic highs on Thursday, but only the NASDAQ and USA500 closed at fresh peaks with the former advancing 0.45% to 15,993 and the latter rising 0.34% to 4706, while the Dow Jones slipped -0.17% to 35,870. Nikkei and Topix rose 0.4% and 0.5% respectively. GER30 and UK100 futures are up 0.5%.
Alibaba Group Holding LTD weighed as the company slashed its outlook for fiscal revenue next year amid increased competition and China’s regulatory crackdown.
Strong retail profits from Macy’s and Kohl’s helped sentiment, as the companies indicated strong consumer demand. On the tech side, NVIDIA led the sector, rising 7% after upgrading guidance. The consumer discretionary and tech sectors led gainers, while utilities lagged.
German PPI inflation jumped to 18.4% y/y.
– Hotforex Market Analyst, Andria Pichidi
Things to watch today
U.K. Retail Sales MoM, European Central Bank President Lagarde Speaks, Canada Core Retail Sales MoM
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