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Foreigners Dump S. African Stocks in Longest Streak for 5 Months
JOHANNESBURG (Capital Markets in Africa) – Foreigners were net sellers of South African stocks for the first four days of this week, the longest sequence in almost five months, as they reduced holdings in companies including some of the country’s largest retailers.
Retailers Shoprite Holdings Ltd., Mr. Price Group Ltd., and Woolworths Holdings Ltd. were among stocks most heavily sold by foreign investors, along with Richemont, Naspers Ltd. and MTN Group Ltd., figures from Johannesburg’s stock exchange show.
The stretch of net sales is the longest since the four days ending Aug. 26, according to the data. The bourse’s benchmark index advanced 0.6 percent by 1:54 p.m., poised to gain for the fourth day.