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Negative export data drags Asian markets through the mud

11 March 2019

Negative export data drags Asian markets through the mud

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Market commentary

SA flag Icon
South Africa

The JSE tracked broad-based losses from Asian counterparts on Friday following the release of poor economic data from China. At 17h15 the All Share lost 0.69%.

US flag Icon
United States

Following the release of stagnant job growth numbers for February, US stocks fell on Friday, fuelling concerns over a sharp deceleration in domestic economic activity. At 17h30 the Dow had fallen 0.70%.

EU flag Icon
Europe

European shares dropped on Friday, as less-than-inspiring Chinese economic data weighed heavily on global markets. At 17h30 the pan-European STOXX 600 index lost 0.96%.

HK flag Icon
Hong Kong

Chinese shares led broad-based losses for Asian markets on Friday, as lower export and import data fuelled concerns over a slowing economy. The Hang Seng ended the day 1.96% lower.

Japan flag Icon
Japan

The Nikkei fell on Friday as trimmed forecasts for European growth and negative Chinese export data weighed heavily on risk appetites. At 17h45 the Nikkei lost 2%.

Rand Icon
Rand

The rand fell on Friday as gloomy economic data from China wreaked havoc on global markets. At 18h50 the rand traded R14.43 against the dollar.

Precious metals Icon
Precious metals

Gold prices rebounded on Friday ahead of the release of a US jobs report, while investors continued to express concern over growing signs of a global slowdown. At 18h50 spot gold was trading at $1 296.64 an ounce.

Oil Icon
Oil

Oil prices slipped over 2% on Friday after reports showed a sharp decline in Chinese imports and exports over the previous month. At 18h00 a barrel of Brent crude was trading at $64.63.


Market indicators

Local markets (R)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
ALSI 55 488.79 - 0.66 4.48 9.21 - 1.41 - 2.80
Gold mining 1 549.52 3.08 5.70 29.01 52.10 38.88
Basic minerals 31 995.22 - 0.96 8.46 20.86 9.63 33.25
Industrial index 73 439.71 - 0.99 5.67 6.54 - 6.77 - 13.33
Financial 41 778.32 0.30 - 1.40 3.64 - 0.92 - 8.31
Fin + Ind 30 7 474.92 - 0.55 3.14 5.53 - 4.86 - 11.68
International markets (Base currency)
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Dow Jones (USD) 25 450.10 - 0.78 1.46 4.96 - 0.64 5.06
S&P 500 PR (USD) 2 743.13 - 0.79 1.82 4.94 - 3.30 2.85
NASDAQ (USD) 7 408.14 - 0.18 1.63 6.60 - 5.73 0.83
FT-100 (GBP) 7 104.31 - 0.74 1.41 5.98 - 0.54 2.94
Hang Seng (HKD) 28 228.42 - 1.89 1.30 8.64 5.46 - 4.59
Nikkei 225 (JPY) 21 025.56 - 2.01 3.48 - 2.75 - 4.78 0.42
Paris CAC (EUR) 5 231.22 - 0.70 5.44 8.85 0.00 1.89
Frankfurt (EUR) 5 282.86 - 0.52 5.05 6.21 - 4.20 - 7.27
Other markets
Index Current level 1 Day move 1 Month move 3 Month move 6 Month move 1 Year move
Gold ($) 1 286.40 0.07 - 1.55 3.64 7.13 - 3.46
Platinum ($) 820.00 - 0.73 3.14 3.93 3.40 - 13.59
Brent Oil ($) 66.30 0.47 7.58 7.51 - 13.71 3.05
Rand/USD 14.43 0.60 -6.01 -0.43 4.46 -21.20
Rand/GBP 18.72 1.52 -6.41 -3.60 4.70 -13.95
Rand/EUR 16.21 0.28 -5.20 0.74 7.39 -10.58
ALBI (R) 652.93 - 0.07 0.33 4.60 7.37 4.60
  1. Some data may be delayed, the above table reflects the latest available information
  2. Performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month


Economic calendar

Local International
  1. ZA: No economic data scheduled for release
  1. US: Retail Sales JAN
  2. UK: Consumer Inflation Expectations Q1

Source: Reuters, Business Day, Trading Economics


PSG Product Matrix

Fund matrix

PSG Wealth Solutions
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Enhanced Interest D 3.92 7.95 8.03 8.09 7.81 7.47
PSG Wealth Income FoF D 3.43 7.57 7.83 8.36 8.00 8.17
PSG Wealth Preserver FoF D 0.26 5.24 6.25 5.81 6.33 7.33
PSG Wealth Moderate FoF D - 2.03 2.76 5.77 4.99 5.38 6.89
PSG Wealth Creator FoF D - 1.94 - 1.45 4.69 4.93 3.46 5.37
PSG Wealth Global Moderate FF D - 6.40 17.33 8.97 2.92 6.90 8.00
PSG Wealth Global Creator FF D - 6.49 23.04 15.71 9.02 12.44 -
PSG Wealth Solutions ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Moderate FoF D - 1.10 - 2.94 3.47 4.86 1.63 1.61
PSG Wealth Global Creator FoF D - 1.18 1.31 9.68 11.07 6.83 6.45
PSG Wealth Global Preserver FoF (USD) D 1.75 1.33 2.66 5.25 3.30 3.23
PSG Wealth Global Flexible FoF (USD) D 1.45 2.91 9.08 11.23 7.17 6.42
PSG Wealth Solutions (£)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth Global Preserver FoF (GBP) D 0.11 5.10 0.31 6.81 5.85 6.47
PSG Wealth Global Flexible FoF (GBP) D - 0.31 8.08 4.64 12.56 9.73 10.75
PSG Asset Management
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Money Market A 3.56 7.27 7.40 7.44 7.22 6.99
PSG Income A 4.23 7.97 8.33 8.50 8.05 7.79
PSG Diversified Income 2.81 6.01 7.47 7.85 7.80 7.64
PSG Stable A - 0.34 1.69 5.31 6.47 6.50 6.99
PSG Balanced A - 5.09 - 2.73 2.85 5.33 5.28 6.85
PSG Flexible A - 3.99 - 1.19 3.42 6.21 6.45 7.84
PSG SA Equity D - 6.44 - 14.24 - 3.07 4.28 - -
PSG Equity A - 6.78 - 6.51 0.46 6.22 3.50 5.70
PSG Global Flexible FF A - 7.66 13.65 7.21 5.39 7.86 -
PSG Global Equity FF A - 8.47 12.67 7.76 7.03 7.83 8.30
PSG Asset Management ($)
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Global Flexible USD A - 2.95 - 6.52 1.71 7.68 2.93 2.47
PSG Global Equity USD - 3.94 - 7.20 2.19 9.21 2.92 2.36
PSG Direct Portfolios
Fund 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Direct Flexible Income 3.40 6.68 7.42 7.65 7.37 7.16
PSG Direct Low Equity - 1.06 1.02 4.68 6.00 6.00 6.61
PSG Direct Managed - 5.03 - 2.79 2.52 5.07 5.09 6.61
PSG Direct Aggressive - 5.71 - 0.09 3.04 5.76 5.63 -
PSG Direct Global Managed - 7.87 13.14 6.73 4.91 7.37 -
PSG Direct Global Aggressive - 8.37 12.54 7.08 5.95 7.36 -
  1. The PSG Wealth Solutions are exclusively available through registered PSG planners and/or advisers
  2. The above information reflects the latest available data at time of distribution, as such product performance data reflects T-2 numbers
  3. Performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month
  4. The PSG Best Ideas Portfolios were renamed to the PSG Direct Portfolios in February 2018

Equity portfolio matrix

PSG Wealth House View Portfolios
Portfolio 6 Month move 1 Year move 2 Year move 3 Year move 4 Year move 5 Year move
PSG Wealth SA Equity Portfolio -3.64 -6.69 3.06 4.28 - -
PSG Wealth SA Property Equity Portfolio -4.12 -8.40 -3.70 -2.49 - -
PSG Wealth SA Dividend Income Equity Portfolio -4.84 -10.88 3.71 - - -
PSG Wealth Offshore Equity Portfolio (USD) -0.44 2.34 12.73 13.63 - -
PSG Wealth Managed Volatility Equity Portfolio -7.98 -9.63 -2.17 - - -
  1. The PSG Wealth equity portfolios are exclusively available through registered PSG planners and/or advisers
  2. PSG Wealth equity portfolio performance are shown gross of management fees, but net of brokerage and other trading costs
  3. PSG Wealth SA and Offshore Equity Portfolio Inception date: 30 August 2015
  4. PSG Wealth SA Listed Property Portfolio Inception date: 1 December 2015
  5. PSG Wealth Dividend Income Equity Portfolio Inception date: 29 April 2016
  6. PSG Wealth Managed Volatility Equity Portfolio Inception date: 28 July 2016
  7. PSG Wealth Funds are exclusively available through registered PSG planners and/or advisers


Recent investment ideas

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Highlights

  • The share code is JMP: NYSE and our recommendation is up to 4%.
  • Potential factors, which could enhance earnings in 2019, include regulatory changes in the way the supplementary leverage ratio is calculated for banks.
  • On the downside, risks include no additional US interest rate hikes, which could limit net interest income (NII) growth, and a faster deterioration in the economic cycle could lead to slower revenue growth and higher credit costs.
  • The group’s balance sheet remains strong, comfortably meeting all the Basel III requirements.


Corporate actions

Date Company Share code Expectation
13 March 2019 Anglo American Plc AGL DRIP
Option 1 - (Cash Dividend) Gross - ZAR7.20518Less 20% DWT - ZAR1.441036Net - ZAR5.764144
Option 2 (Reinvestment)Reinvestment Price - To be announced
Default - Option 1 (Cash)
13 March 2019 Adcock Ingram Holdings Limited AIP Cash Dividend
13 March 2019 Assore Limited ASR Cash Dividend
13 March 2019 Discovery Holdings Limited DSY Cash Dividend
13 March 2019 Golf Fields Limited GFI Cash Dividend
13 March 2019 Kumba Iron Ore Limited KIO Cash Dividend
13 March 2019 Liberty two Degrees L2D Cash Dividend
13 March 2019 London Finance and Investment Group Plc LNF Cash Dividend
13 March 2019 Royal Bafokeng Platinum Limited - Convertible Bonds RBPCB Interest Payment
13 March 2019 Shoprite Holdings Limited SHP Cash Dividend
13 March 2019 Sasol Limited SOL Cash Dividend
13 March 2019 Sasol BEE Ordinary Shares SOLBE1 Cash Dividend
13 March 2019 Tradehold Limited TDH Odd-Lot Offer
Option 1 (Sell holdings less than 100 shares) (subject to 20% DWT)
Gross Offer Price - To be announced
Option 2 - (Retain Odd-lot Holdings)
Default - Option 1
13 March 2019 Tradehold Limited TDH Specific Repurchase
Tender holdings (beneficial owner level) from 100 to 3000 shares (subject to 20% DWT)
Gross Offer Price - To be announced
Defaut - No Action
13 March 2019 The Foschini Group Limited 6.5 percent Preference Shares TFGP Cash Dividend
13 March 2019 Transpaco Limited TPC Cash Dividend
13 March 2019 Truworths International Limited TRU Cash Dividend
13 March 2019 Woolworths Holdings Limited WHL Cash Dividend
  1. The information above is to the best of our knowledge correct at the time of distribution but due to the nature thereof cannot be guaranteed.
  2. This document only contains general information and not the opinion of the distributor.

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Author
author

Adriaan Pask PhD

Chief Investment Officer


At PSG Wealth
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