Despite a weaker close on Wall Street, South African stocks edged higher in early trade on Thursday in line with slightly stronger key Asian markets, an equities trader said.
At 9.23am, the JSE all share had collected 0.37 percent, with resources up 0.39 percent. Gold miners put on 0.81 percent, but platinum counters eased 0.27 percent.
Banks edged up 0.39 percent, financials collected 0.27 percent and industrials were up 0.45 percent.
The rand was bid at 7.82 to the dollar from 7.88 when the JSE closed on Wednesday. Gold was quoted at $931.05/oz a troy ounce from $931.80/oz at the JSE's last close, and platinum was at $1172/oz, from $1170/oz at its previous close.
"We have edged up this morning despite US having closed lower. Asian markets picked up a bit as well," the trader said.
"US futures are also higher at the moment. There is some buying taking place, but investors are still cautious. We may see some profit taking, depending on what happens in the US.
"Most of the stocks are a bit overbought, it's cautious buying that we are seeing," she said.
