{"id":320086,"date":"2019-05-29T13:35:52","date_gmt":"2019-05-29T11:35:52","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=320086"},"modified":"2019-05-29T13:35:52","modified_gmt":"2019-05-29T11:35:52","slug":"index-change-leads-to-largest-south-african-stock-outflows-on-record","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/320086\/index-change-leads-to-largest-south-african-stock-outflows-on-record\/","title":{"rendered":"Index change leads to largest South African stock outflows on record"},"content":{"rendered":"

Foreign investors\u2019 sales of South African stocks jumped to a record as emerging-market index changes by compiler MSCI Inc. prompted money managers to adjust their holdings.<\/p>\n

Net outflows surged to R13.3 billion ($894 million) of South African shares Tuesday, compared with net purchases of R389 million in the previous session, figures from stock exchange operator JSE Ltd. show.<\/p>\n

MSCI added twenty-six China shares, 30 equities from Saudi Arabia and eight Argentine securities to its emerging-market stock benchmarks, at the expense of South African stocks in changes that took effect Tuesday.<\/p>\n

Net sales of Naspers were the largest Tuesday, at R4.9 billion. Nedbank, Hyprop Investments, Bidvest Ltd. and FirstRand were also in the top five, the JSE figures show.<\/p>\n

“South Africa\u2019s weighting went from 6.34% to 6.05% in the MSCI emerging market index,” said Matete Thulare, an analyst at FirstRand Bank in Johannesburg.<\/p>\n

MSCI is the world\u2019s biggest index compiler and its emerging-markets index is the most important for the asset class, with as much as $1.8 trillion in assets benchmarked to it as of June 2018.<\/p>\n

South Africa\u2019s main stock index was 0.5% higher at 11:03 in Johannesburg on Wednesday.<\/p>\n

\"\"<\/a><\/p>\n

\n

Read: Rand hit by \u2018the perfect storm\u2019<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Foreign investors\u2019 sales of South African stocks jumped to a record as emerging-market index changes by compiler MSCI Inc. prompted money managers to adjust their holdings.<\/p>\n","protected":false},"author":59,"featured_media":52419,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26],"class_list":["post-320086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/320086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=320086"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/320086\/revisions"}],"predecessor-version":[{"id":320092,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/320086\/revisions\/320092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/52419"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=320086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=320086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=320086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}