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Johannesburg - South African stocks fell for a second straight session on Thursday, tracking global shares that stumbled as investors braced for a speedier rise in US interest rates than previously thought.
But losses were capped by some mining firms such as platinum producer Aquarius Platinum, which added almost 2% to R7.15, helped by the weakening rand.
Local mining companies benefit from a weaker rand as the commodities they produce and sell is priced in dollars.
"We have seen a lot of weak figures coming out of China which is bad for commodities but the weaker rand is helping our mining companies today," said Abri du Plessis, chief investment officer of Gryphon Asset Management.
The Top-40 index shed 0.29% to 41 885.37 while the wider All-share index lost 0.34% to 46 509.27.
Worries about the outlook in China hit iron ore producer Assore, which shed 4.4% to R380.01. The world's second-largest economy is a major consumer of the steel making ingredient.
Shares of Anglo American Platinum could rise on Monday. The company said just before the close of trade it had side a wage agreement with the NUMSA union, although another strike with a larger union continues.
The market will be closed on Friday for South Africa's Human Rights Day public holiday.
Decliners outnumbered advancers 162 to 132 with 59 issues unchanged, according to preliminary bourse data. Trade was thin ahead of the long weekend with only 112 million shares changing hands.
But losses were capped by some mining firms such as platinum producer Aquarius Platinum, which added almost 2% to R7.15, helped by the weakening rand.
Local mining companies benefit from a weaker rand as the commodities they produce and sell is priced in dollars.
"We have seen a lot of weak figures coming out of China which is bad for commodities but the weaker rand is helping our mining companies today," said Abri du Plessis, chief investment officer of Gryphon Asset Management.
The Top-40 index shed 0.29% to 41 885.37 while the wider All-share index lost 0.34% to 46 509.27.
Worries about the outlook in China hit iron ore producer Assore, which shed 4.4% to R380.01. The world's second-largest economy is a major consumer of the steel making ingredient.
Shares of Anglo American Platinum could rise on Monday. The company said just before the close of trade it had side a wage agreement with the NUMSA union, although another strike with a larger union continues.
The market will be closed on Friday for South Africa's Human Rights Day public holiday.
Decliners outnumbered advancers 162 to 132 with 59 issues unchanged, according to preliminary bourse data. Trade was thin ahead of the long weekend with only 112 million shares changing hands.
