The JSE could open mixed on Wednesday, as global markets struggle for direction amid the US-China trade row, while at least eight local firms are expected to publish financial results.
“Some consolidation is expected in the near term after two days of market mayhem this week, as investors assess the impact of a deceleration in the state of US-China relations on global growth and earnings,” analysts at OCBC Bank in Singapore said in a note on Wednesday. Hong Kong’s Hang Seng Index was flat at the lunch break on Wednesday amid pro-democracy protests in the Chinese special administrative region. The Shanghai Composite was 0.3% down, while Japan’s Nikkei 225 edged up 0.2%.Chinese internet and gaming company Tencent, which is 31%-held by Naspers, fell 1.3% in Hong Kong. On the other hand, JSE-heavyweight BHP Group gained 1.5% in Australia.Food-service group Bidcorp is due to report annual results, as is health-care company Adcock Ingram.
Grindrod Shipping will report half-year results after markets in SA and New York close. Its management is due to host a conference call on Thursday.
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