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Johannesburg - The JSE will be open for a half day on Tuesday before closing for the holiday, after stocks edged up nearly 1% on Monday to close near a lifetime high.
Investors snapped up blue chips such as Naspers and Mondi that have driven Africa's top bourse to a string of records this year.
Naspers rose 1.6% to R1 078. The media firm has gained 98.5%t so far in 2013, making it the most valuable local company on the Johannesburg exchange, helped by its stake in Chinese internet company Tencent Holdings.
Its dramatic rise is likely to continue into the new year, said Abri du Plessis, chief investment officer at Gryphon Asset Management in Cape Town.
"If you look at Tencent, the performance there is still tremendous. As long Tencent is going to pump, Naspers is going to pump. For now, I can't see it turning around."
The benchmark Top-40 index rose 0.91% to 41,348.03, not far off its record high of R41,473.92 set in November.
The index is on track for a rise of nearly 19% this year, adding to a 22% gain in 2012.
But for overseas investors, the gains have been eroded by the weakening rand. In dollar terms the Top-40 is down 4%.
Rand weakness has also increased the lustre of firms which have significant overseas earnings, such as Naspers and Mondi.
Mondi, a paper maker, has also added more than 90% this year. On Monday its shares climbed 3.6% to R179.66.
Retailers, which were star performers in previous years, have largely had a lackustre 2013, given concerns about weak economic growth.
That trend could continue into 2014, Du Plessis said.
"One will have to see what is going to happen to local growth, otherwise some of the domestic-focused stocks are going to suffer."
Shares of food and clothing retailer Woolworths Holdings fell 1.05% to R74.60. Its shares are up just 5% this year.
Rival clothing store Truworths added 0.72% to R77.03. Its shares are among the worst performing on the Top-40 this year, down nearly 30%.
Trade was slow ahead of the New Year holiday, with just 80 million shares changing hands, according to preliminary bourse data. Advancers outnumbered decliners, 179 to 98, with 58 shares unchanged.
* Fin24 is part of Media24, a subsidiary of Naspers.
Investors snapped up blue chips such as Naspers and Mondi that have driven Africa's top bourse to a string of records this year.
Naspers rose 1.6% to R1 078. The media firm has gained 98.5%t so far in 2013, making it the most valuable local company on the Johannesburg exchange, helped by its stake in Chinese internet company Tencent Holdings.
Its dramatic rise is likely to continue into the new year, said Abri du Plessis, chief investment officer at Gryphon Asset Management in Cape Town.
"If you look at Tencent, the performance there is still tremendous. As long Tencent is going to pump, Naspers is going to pump. For now, I can't see it turning around."
The benchmark Top-40 index rose 0.91% to 41,348.03, not far off its record high of R41,473.92 set in November.
The index is on track for a rise of nearly 19% this year, adding to a 22% gain in 2012.
But for overseas investors, the gains have been eroded by the weakening rand. In dollar terms the Top-40 is down 4%.
Rand weakness has also increased the lustre of firms which have significant overseas earnings, such as Naspers and Mondi.
Mondi, a paper maker, has also added more than 90% this year. On Monday its shares climbed 3.6% to R179.66.
Retailers, which were star performers in previous years, have largely had a lackustre 2013, given concerns about weak economic growth.
That trend could continue into 2014, Du Plessis said.
"One will have to see what is going to happen to local growth, otherwise some of the domestic-focused stocks are going to suffer."
Shares of food and clothing retailer Woolworths Holdings fell 1.05% to R74.60. Its shares are up just 5% this year.
Rival clothing store Truworths added 0.72% to R77.03. Its shares are among the worst performing on the Top-40 this year, down nearly 30%.
Trade was slow ahead of the New Year holiday, with just 80 million shares changing hands, according to preliminary bourse data. Advancers outnumbered decliners, 179 to 98, with 58 shares unchanged.
* Fin24 is part of Media24, a subsidiary of Naspers.
