It is red across the board from Asia on Friday morning as markets tracked Wall Street which closed lower overnight, so the JSE is opening to investors still digesting higher than expected US inflation data.
The Nikkei tracked US markets as investors try to figure out their next move amid concerns about a possible recession. The Shanghai Composite was down despite a series of positive data from the world’s second largest economy, including urban unemployment reaching its lowest levels since January, year-on-year retail trade sales beating expectations, and industrial production rising.
The Hang Seng slipped as investors remain concerned about a global slowdown amid the possibility of higher interest rates.In local markets, the JSE posted a third straight day of losses on Thursday in another volatile session, suggesting that investors are braced for further uncertainty amid high inflation and rising interest rates.