Asian markets are down across the board this morning. Benchmarks fell in India, Hong Kong, Japan, mainland China and South Korea.
Locally, PSG Financial Services reported a notable 15% rise in assets under management, reaching R407 billion. They saw net client inflows of R23 billion in their wealth management business, and said they were deploying more capital offshore to take advantage of the 45% allocation introduced in 2022 by the refreshed regulation 28.
US equity futures are edging lower in pre-market trade, but there is still time to turn that around. The Rand has fallen back to R19.28 to the US Dollar.
Brent crude oil prices surged past $90 a barrel briefly, before retracing gains. The uptick followed news of explosions in Iran, Syria, and Iraq. It's not entirely clear if Israel is commencing major strikes against Iran. "Loud noises" were reported in the central city of Isfahan, but Iranian state television noted that nuclear facilities in the city were unaffected.
Today, Procter & Gamble and American Express will announce earnings before the market opens.
Have a great weekend.