JSE trading volumes slow to a dribble ahead of elections

SA’s economy hasn’t grown more than 2% annually since 2013, while business confidence is at a two-year low. Foreigners have voted with their feet, selling a net $2.3bn worth of SA equities in 2019 as of May 3, compared with inflows of $2.5bn by that time in 2018. That’s helping to push down stock valuations.

“Rightly so,” Treurnicht said in e-mailed comments. “I am not of the opinion that Ramaphosa will be able to do enough. Drastic measures are needed. No one has gone to jail for corruption and related offences.”

The volume of shares traded on the JSE has dropped for three months in a row for the first time since April 2016. The country’s benchmark stock index was 0.6% lower as of 3.01pm on Tuesday.

Bloomberg