South African Stocks Poised to Extend Golden First-Half Rally

South African stocks are heading for their best first-half performance in almost two decades, and precious-metal prices could pave the way for further gains.

The FTSE/JSE Africa All Share Index is up 14% this year, on track for its biggest first-half advance since 2006. In dollar terms, it’s up 21%, outperforming both the MSCI Emerging Markets Index and the S&P 500.