Share Forum - Discuss JSE shares and join the Investor Challenge

TOKYO (Reuters) - Asian shares stuttered after giving up small gains on Tuesday, as modest relief on data showing the Chinese economy grew slightly more than expected failed to assuage lingering concerns of weakening momentum in the world's second-biggest economy.

China's gross national product expanded 7.3 percent between July and September from a year earlier, slightly above expectations but slower than the 7.5 percent clocked in the second quarter.

It was also the weakest growth rate in nearly six years, putting at risk Bejing's official annual growth target for the first time in 15 years and adding to worries that China is becoming a drag on the global economy.

"The data was better than I expected, more optimistic than we thought. But we definitely cannot achieve the 7.5 percent growth target this year," said Lin Caiyi, chief economist at Guotai Junan Securities in Shanghai.

Other data showed factory output rose 8.0 percent in September from a year earlier, beating expectations for a 7.5 percent increase and up from August's six-year low of 6.9 percent.

However, fixed asset investment and retail sales figures were weaker than expected, suggesting that Beijing still has reason to announce a fresh round of economic support measures though analysts don't see aggressive stimulus steps.

I suppose the only major effect will be the Rand? What else, retailers ?

Dow ended +1.31%, Nas +2.38%, S&P +1.94%

Asia Pacific:

Nikkei +1.7%
Hong Kong +1.2%
Shanghai +0.4%
Sydney +0.9%
Seoul +0.8%
Mumbai +0.8%
Taipei +1.2%

Moon’s F&G @ 9 “EF”, VIX @ 16.08

Eco Calendar:

SA Mini-Budget Speech

10:00 SA CPI
10:30 GB BoE Minutes
14:30 US CPI

Alsi ended +1.96% @ 48 530, T40 +2.13% @ 43 385.

Up MrPrice +5.89%, Brait +5.09%, Telkom +4.71%, Remgro +4.68%, Massmart +4.68%, Distell +4.34%.

Down AECI -1.39%, ARM -1.29%.

New high Aspen @ 35909, new low Reunert @ 5536.

Trading most to positive this week, NPN, APN, BIL, MTN, KIO.

Spot Gold $1249.35 8:51, T40 @ 43 572 (+0.21%)

Northam Plat raises BEE ownership to 35.4%.

Sibanye FY production forecast unchanged @ 50 000kg.

Brait posts 8.8% rise in NAV/share, 6mnths to end Sep.

S&P 500 futures

1,934.00 Down 4.00(0.21%)

Dow futures

16,546.00 Down 1.00(0.01%)

Nasdaq futures

3,966.50 Down 5.00(0.13%) 

Mini budget ‘highlights’:


Economic growth slower than forecasted.

Budget deficit bigger than forecasted.

Promised tighter grip on government spending to prevent SA’s credit rating to be graded as junk.

This year, SA’s economy overtaken by Nigeria as continent's largest.

Economic  growth expectation now 1.4%, 2.7% predicted in February 2014.

Personal tax to be raised for additional revenue over the next two years.

National debt at R2.4 trillion ($217 billion) by 2017/18.

Extra R20 billion ($1.8 billion) for Eskom and possibly also convert its existing R60 billion subordinated loan to equity.


"Without an adjustment, it is likely that South Africa's sovereign debt would be downgraded to 'sub-investment grade', risking impaired access to credit markets," it warned.


Really?  A warning for us, the ones who is not in charge, who pay taxes and don't strike?


T40 ended -0.81% @ 43 035, Alsi -0.67% @ 48 202, that is 9% since July/July all time high by the way.

T40 now -0.60% @ 42 779.

I will pay for the Stoep on the left side.

You can't, I've already paid for that stoep. 

Another tit-bit.  I'm done, taking the rest of the day off to soothe my agitated soul.



SA Post Office on the brink of financial collapse

South African post office announced yesterday that they were on the brink of financial collapse, at more than 5 Billion in debt and if the government did not bail them out in the next week, then they would have to shut their doors. The financial situation of the post office is dire. It is seriously dire,” Sapo general manager public affairs Andrew Nongogo told Parliament's communications and public enterprises select committee.

S&P 500 futures Up 9.00(0.47%)
Dow futures Up 63.00(0.38%)
Nasdaq futures Up 18.75(0.47%)

S&P 500 up 0.71%
Dow up 0.76 %
Nasdaq up 0.69

Asian equities rose on Monday, taking heart from upbeat U.S. economic data and slightly better-than-expected health checks on euro zone banks, which helped revive investors' risk appetite

S&P 500 Futures 1,960.45 +0.70 +0.04%   
  NQ 100 Futures 4,040.90 +6.15 +0.15%   
  Dow 30 16,805.41 +127.51 +0.76%   
  DAX 8,987.80 -59.51 -0.66%   
  FTSE 100 6,388.73 -30.42 -0.47%   
  Nikkei 225 15,388.72 +97.08 +0.63%