JSE closes at highest level for 2020 with surge in demand (mid-pandemic!)
Pandemic or no pandemic, there were more gains for the Johannesburg Stock Exchange (JSE) on Wednesday as it closed at record levels.
While trade volumes have been boosted, 2020 has also seen a drop in listings.
The volatility we've seen this year boosts the number of trades; it boosts their profits, but it undermines confidence in the long-term.Bruce Whitfield, The Money Show host
Bruce Whitfield interviews JSE CEO Leila Fourie.
We've had record volumes during the month of March... On the 24th of March we had our biggest day in the history of the JSE...Leila Fourie, CEO - Johannesburg Stock Exchange
Although we had this hyperactive trading in March... to a pretty staggering rally in April and May, we have seen that the dynamics of our market have translated into a pillow or a cushion for investors.Leila Fourie, CEO - Johannesburg Stock Exchange
For the year to date, our top 40 is up from last year and so we're very pleased that our market has demonstrated a level of resilience and that the structure of the market is different in South Africa than it may be, for example, in Europe where they are highly exposed to automobile, airline and industrial companies.Leila Fourie, CEO - Johannesburg Stock Exchange
We have a number of tech companies, a number of data companies and also a number of resource companies which have rallied off the back of the enormously increasing gold price we saw yesterday (Tuesday)...Leila Fourie, CEO - Johannesburg Stock Exchange
How is the JSE coping with the increased demand on its system?
Fourie notes that the company has been investing incrementally in technology, enabling the bourse to withstand current massive volumes.
I am incredibly proud of the staff and particularly pleased with the way in which our tech has held up.Leila Fourie, CEO - Johannesburg Stock Exchange
The crisis means different things to different people and with a hugely scaled and high volume market, it puts particular pressure on both the traders and the JSE to make sure that systems stay up and running. We didn't have any downtime during this crisis.Leila Fourie, CEO - Johannesburg Stock Exchange
Listen to the interview on The Money Show:
This article first appeared on 702 : JSE closes at highest level for 2020 with surge in demand (mid-pandemic!)
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