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Johannesburg - The JSE extended losses at noon on Monday, with mining shares taking the biggest hit due to commodity demand worries after China revised its economic growth prospects downwards for this year.
At noon local time, the JSE All Share [JSE:J203] index was off 0.66% to 33 962.58 points, with gold miners 2.17% weaker, resources down 1.33% and platinum miners shedding 1.18%.
Banks dipped 0.61%, with industrials down 0.34% and financials 0.17% in the red.
The rand was at 7.57 to the dollar, from 7.52 at the JSE's close on Friday. Gold was softer at US$1,696 a troy ounce from $1,708.05/oz at the JSE's previous close, while platinum was quoted at $1,664/oz, from $1,695.50/oz.
"The markets are treating the Chinese moderate economic growth outlook with caution. I wouldn't say the data was a shock to the markets," said Ian Cruickshanks, market commentator at Nedbank Capital. "China has in the past few years exceeded its own growth forecasts."
European stocks fell on Monday, weighed down by weak data and growing concerns about Greece's upcoming debt swap, while sentiment was undermined by worries about China after the country set its lowest annual growth target in eight years, Dow Jones Newswires report.
London's FTSE 100 index was down 0.53% at 5 879.99 points at noon local time.
Greece was the main focus, as investors looked to the next phase of the second bailout implementation, amid signs that the debt swap due to be concluded by the end of this week wasn't progressing as well as hoped.
A weaker-than-expected reading from the eurozone services purchasing managers' index (PMI) added to the downbeat tone.
The composite PMI for February came in at 49.3 from an earlier estimate of 49.7 and compared with expectations for a reading of 49.7. The sub-50 reading meant business activity shrank in February, following a brief period of growth the previous month.
In Asia, Hong Kong's Hang Seng Index ended 1.4% lower at 21 265.31 points, Japan's Nikkei Stock Average dropped 0.8% to 9 698.59 points and China's Shanghai Composite fell 0.6% to 2 445.
At noon local time, the JSE All Share [JSE:J203] index was off 0.66% to 33 962.58 points, with gold miners 2.17% weaker, resources down 1.33% and platinum miners shedding 1.18%.
Banks dipped 0.61%, with industrials down 0.34% and financials 0.17% in the red.
The rand was at 7.57 to the dollar, from 7.52 at the JSE's close on Friday. Gold was softer at US$1,696 a troy ounce from $1,708.05/oz at the JSE's previous close, while platinum was quoted at $1,664/oz, from $1,695.50/oz.
"The markets are treating the Chinese moderate economic growth outlook with caution. I wouldn't say the data was a shock to the markets," said Ian Cruickshanks, market commentator at Nedbank Capital. "China has in the past few years exceeded its own growth forecasts."
European stocks fell on Monday, weighed down by weak data and growing concerns about Greece's upcoming debt swap, while sentiment was undermined by worries about China after the country set its lowest annual growth target in eight years, Dow Jones Newswires report.
London's FTSE 100 index was down 0.53% at 5 879.99 points at noon local time.
Greece was the main focus, as investors looked to the next phase of the second bailout implementation, amid signs that the debt swap due to be concluded by the end of this week wasn't progressing as well as hoped.
A weaker-than-expected reading from the eurozone services purchasing managers' index (PMI) added to the downbeat tone.
The composite PMI for February came in at 49.3 from an earlier estimate of 49.7 and compared with expectations for a reading of 49.7. The sub-50 reading meant business activity shrank in February, following a brief period of growth the previous month.
In Asia, Hong Kong's Hang Seng Index ended 1.4% lower at 21 265.31 points, Japan's Nikkei Stock Average dropped 0.8% to 9 698.59 points and China's Shanghai Composite fell 0.6% to 2 445.
