A rise in US Covid-19 cases continues to buffet sentiment, while Chinese data at the weekend was positive
The JSE faces sharply weaker Asian markets on Monday morning, with global attention still on a rise in US Covid-19 cases.
Infections in the US have surpassed 2.5-million, threatening to derail a recovery in the world’s largest economy.Sentiment is finding support from Chinese industrial data at the weekend showing an improvement in activity in May, said Oanda senior market analyst Jeffrey Halley in a note. Tensions in Hong Kong will be high this week, with Beijing set to release the final version of a new security bill.Gold was up 0.17% to $1,773.96 an ounce while platinum had risen 1.25% to $808.87.
Local focus this week is on first-quarter GDP numbers on Tuesday, and a sharp contraction is expected.
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