11 hours ago
South African Stocks Tipped to End Decade of Foreign Outflows
The valuation discount of South African equities relative to developing peers is set to narrow as some of the capital flowing out of the US and into emerging markets finds its way to Johannesburg stocks, according to Momentum Investments.
Foreign investors have been net sellers of South African stocks every year since 2016, and net outflows year-to-date already amount to $6.3 billion, according to JSE Ltd. data. Even so, the benchmark FTSE/JSE Africa All Share Index is outperforming the MSCI Emerging Market stock index and the S&P 500 in dollar terms this year.
