{"id":8603,"date":"2012-03-06T02:55:48","date_gmt":"2012-03-06T00:55:48","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/s-african-stocks-lower-on-disappointing-china-data\/"},"modified":"2012-03-06T02:55:48","modified_gmt":"2012-03-06T00:55:48","slug":"s-african-stocks-lower-on-disappointing-china-data","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-stocks-lower-on-disappointing-china-data\/","title":{"rendered":"S.African stocks lower on disappointing China data"},"content":{"rendered":"

\t\t<\/span><\/p>\n

JOHANNESBURG, March 5<\/span> (Reuters) – South African stocks
\nedged lower on Monday for a third consecutive session, led by
\nresource stocks such as Gold Fields and Harmony Gold
\n on the back of disappointing growth data from top
\ncommodity consumer China.<\/span><\/p>\n

<\/span><\/p>\n

The Asian giant cut its 2012 growth target to an eight-year
\nlow of 7.5 percent as Beijing looks to wean the economy off its
\nreliance on external demand and foreign capital.<\/p>\n

<\/span><\/p>\n

“It’s a China story today, all of our resource stocks
\npulling back on the back of the data coming out of China,” said
\nMitchell Gannaway, a trader at Thebe Securities.<\/p>\n

<\/span><\/p>\n

“The 7.5 percent is not what the world has been used to in
\nthe last couple of years as despite all the negatives in the
\nglobal economy, China was one of the more positive aspects.”<\/p>\n

<\/span><\/p>\n

China is South Africa’s largest bilateral trading partner
\nand one of the biggest consumers of its commodities. Africa’s
\nlargest economy is the world’s top producer of platinum and a
\nmajor supplier of gold, iron ore and coal.<\/p>\n

<\/span><\/p>\n

The benchmark blue-chip Top-40 index fell 0.56
\npercent to 30,236.78 while the broader All-Share index
\nfell 0.45 percent to 34,031.77.<\/p>\n

<\/span><\/p>\n

Gold Fields, South Africa’s second-biggest producer of
\nbullion, shed 2.8 percent to 112.30 rand and smaller rival
\nHarmony was down 1.7 percent at 91.95 rand.<\/p>\n

<\/span><\/p>\n

Diversifed miner BHP Billiton shed 1.6 percent to
\n239.51 rand, while Kumba Iron Ore a unit of Anglo
\nAmerican and the world’s 10th largest producer of iron
\nore, used in the production of steel, was down 1.5 percent at
\n571.50 rand.<\/p>\n

<\/span><\/p>\n

Johannesburg-traded shares of cigarette company British
\nAmerican Tobacco Plc shed 2.2 percent to 375.88 rand.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

JOHANNESBURG, March 5 (Reuters) – South African stocks edged lower on Monday for a third consecutive session, led by resource stocks such as Gold Fields and Harmony Gold on the back of disappointing growth data from top commodity consumer China. The Asian giant cut its 2012 growth target to an eight-year low of 7.5 percent […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8603","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8603"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8603\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}