The JSE scaled new heights as inflation cooled slightly for December while food prices remained red hot and Chinese tech stocks saw a rally, which has added $350 billion collectively to heavyweights Alibaba and Tencent.
The JSE All-Share Index firmed to add 0.61% to close at 79,825 points.
Earlier, inflation eased to its lowest point since May with the consumer price index printing at 7.2% for December, down from 7.4% in November. Meanwhile, prices of food and non-alcoholic beverages rose by 12.4% year-on-year, only slightly down from 12.5% in November.
The JSE’s global peers were mixed while in Asia stocks firmed with the Hong Kong Hang Seng adding 0.47%, the Shanghai Composite climbing 0.0050% and the Nikkei adding 2.5%.
At 5.00 pm, the S&P 500 was 0.51% higher while the Nasdaq had added 0.98%. London’s FTSE 100 was down 0.061%, Germany’s DAX is 0.29% higher and France’s CAC 40 added 0.36%.
In the currency markets, the rand has clawed back some of its losses over the last couple of days and is trading nearly 1% stronger against the dollar at R16.9127/$. The local unit is also firmer against the euro at R18.3733 while the pound is trading stronger with the rand at R20.9881.
