A strong performance by US equity markets is supporting sentiment even as the coronavirus outbreak continues
The JSE was firmer on Tuesday morning, taking its lead from stronger US and Asian markets, with banks faring best.
Even though the death toll from the virus is climbing, markets are enthused by the continued outperformance of US equities as the S&P 500 lurched higher, propelled by technology stocks, which are, ostensibly, unaffected by the outbreak, said RMB analyst Nema Ramkhelawan-Bhana. There were 2,478 new confirmed cases on the mainland by Monday, down from 3,062 the previous day, bringing the total to more than 43,000. It was the second time in two weeks that authorities recorded a daily drop in new cases, offering a hint of hope the epidemic is peaking, reported Reuters., Hong Kong’s Hang Seng 1.26%, while Japan’s Nikkei 225 was down 0.60%.
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