Foreigners Dump South African Stocks in 12th Day of Sales: ChartBy
Foreign investors have been net sellers on Johannesburg’s stock exchange for the past 12 days, the longest stretch since June 2016. Their exit reflects a faltering rally in emerging-market equities as the prospect of higher U.S. interest rates boosts dollar-based assets. Nervousness over succession in the ruling African National Congress and fallout from corruption allegations swirling around President Jacob Zuma’s government are also prompting some to dump South African shares, says Momentum SP Reid’s Stephen Meintjes.
— With assistance by Neo Khanyile, and Robert Brand