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JSE could open higher on Monday

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On Friday, Chinese export data boosted sentiment, as did strong earnings from US banks JP Morgan and Wells Fargo

The JSE looks set to open higher on Monday as strong export data from China and healthy earnings from US banks boosted Asian stocks in early trade.

Asian equities got off to a strong start on Monday. The Shanghai Composite index was 1.1% higher before noon, while Japan’s Nikkei 225 rose 1.5% and Hong Kong’s Hang Seng index 0.5%. Meanwhile, MTN could get a boost from its African e-commerce associate, Jumia, which rallied 75% on its first trading day in New York on Friday. That means MTN’s 31% stake in Jumia is worth about R8.5bn.

 

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