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Struggling Miners Put the Brakes on South Africa’s Stock Rally

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Struggling Miners Put the Brakes on South Africa’s Stock Rally


South African stocks have their noses in front of emerging-market peers, but glum news from China threatens to weigh on the key mining sector and stymie that outperformance.

Johannesburg’s main equity index has climbed about 7% in 2024 in dollar terms, outshining the 4.6% advance for MSCI Inc.’s gauge of emerging-market stocks. Miners aren’t helping, with the sector dragged lower by worries over weaker demand from China, the biggest customer for South Africa’s industrial metals.



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