SA stocks surge to fresh record on rate cut bets

South Africa’s stock market rose to a record high as prospects of interest-rate cuts combined with a global rally in risk assets.

“With imminent interest rate cuts and declining global inflation, we have seen renewed interest in the rand and the stock market, and we think valuations look very attractive, especially in domestic sectors like the banks,” said James Johnstone, co-head of emerging and frontier markets at Redwheel. Historically, South African shares have performed well following elections. The outcome of this year’s ballot brought an extra boost after the ruling African National Congress entered into a coalition government that included the Democratic Alliance, perceived by investors as business-friendly.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

South Africa’s stocks surge as interest rate cuts loomSouth Africa’s stock market rose to a record high as prospects of interest-rate cuts combined with a global rally in risk assets.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

What is driving the stock market sell-off?Must investors be worried about the stock market sell-off that started with the Bank of Japan increasing interest rates?
Source: TheCitizen_News - 🏆 6. / 75 Read more »