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The dollar has strengthened against a basket of currencies and this has hit commodity prices, which have dragged resources stocks along, a trader said. Commodities also dropped due to profit-taking, the trader said.
By 09:18 local time, the JSE all share index was down 0.38%, with platinum miners declining 1.04% and resources shedding 0.54%. Gold miners bucked the trend, rising 0.54% after slumping 3.56% on Tuesday.
Banks lost 0.51%, financials slipped 0.24% and industrials fell 0.29%.
The rand was bid at R6.67 to the dollar from R6.69 at the JSE's close on Tuesday. Gold was quoted at $1 382.60 a troy ounce from $1 388.91/oz at the JSE's previous close, while platinum was at $1 736.50/oz from $1 756.50/oz before.
The trader said that, even through trading was still quiet, more market participants had returned to work.
Dow Jones Newswires reports that Asian stock markets were mostly lower on Wednesday, with resource stocks losing ground due to weakness in gold and oil prices on Tuesday.
Japan's Nikkei Stock Average lost 0.17% and in Hong Kong, the Hang Seng was last 0.06% lower.
Regional resource-related stocks were broadly lower after weaker gold and oil prices on Tuesday.
"Profit-taking is hitting resource stocks, such as oil and metal companies. But the further downside in the sector will likely be limited because of the recovering global economy," said Zhang Xiang, an analyst at Guodu Securities in Beijing.
Commodities shares are under pressure and could help drag European markets slightly lower to start, reflecting some profit-taking in metals, though optimism still retains good fundamental underpinning.
By 09:18 local time, the JSE all share index was down 0.38%, with platinum miners declining 1.04% and resources shedding 0.54%. Gold miners bucked the trend, rising 0.54% after slumping 3.56% on Tuesday.
Banks lost 0.51%, financials slipped 0.24% and industrials fell 0.29%.
The rand was bid at R6.67 to the dollar from R6.69 at the JSE's close on Tuesday. Gold was quoted at $1 382.60 a troy ounce from $1 388.91/oz at the JSE's previous close, while platinum was at $1 736.50/oz from $1 756.50/oz before.
The trader said that, even through trading was still quiet, more market participants had returned to work.
Dow Jones Newswires reports that Asian stock markets were mostly lower on Wednesday, with resource stocks losing ground due to weakness in gold and oil prices on Tuesday.
Japan's Nikkei Stock Average lost 0.17% and in Hong Kong, the Hang Seng was last 0.06% lower.
Regional resource-related stocks were broadly lower after weaker gold and oil prices on Tuesday.
"Profit-taking is hitting resource stocks, such as oil and metal companies. But the further downside in the sector will likely be limited because of the recovering global economy," said Zhang Xiang, an analyst at Guodu Securities in Beijing.
Commodities shares are under pressure and could help drag European markets slightly lower to start, reflecting some profit-taking in metals, though optimism still retains good fundamental underpinning.
