Johannersburg — Offshore investors reduced their exposure to South African equities last week while directing substantial funds into the country’s bond market, according to Johannesburg Stock Exchange data released on Monday.
Foreign investors recorded net sales of 410 million rand ($25.25 million) in South African stocks during the week.
In contrast, offshore investors were strong buyers of South African bonds, with net purchases reaching 17.80 billion rand, settlement data showed.
The shift suggests international investors showed a stronger preference for South African fixed-income assets than equities during the period.
The rand was trading at around 16.2397 to the U.S. dollar, according to the exchange-rate data accompanying the figures.
Source: Reuters
Reporting: Sfundo Parakozov
Editing: Alexander Winning
