The JSE closed lower on Wednesday, continuing to hover at a two-month low and on track for its worst monthly performance this year.Rand hedges, including heavyweight Naspers fell, with the latter de-coupling from share price movements in its Chinese associate Tencent.Volumes on the local bourse were much higher than usual, at R37bn compared to the usual daily average of R20bn.Banks and financial stocks were given a boost by slightly better-than-expected inflation data, however, retail sales disappointed, putting pressure on stocks in that sector. Steinhoff’s recent rally also stalled.Disappointing sales data in October could be as a result of consumers deferring purchases to take advantage of Black Friday deals, said Investec economist Kamilla Kaplan.While headlines in SA were firmly focused on political considerations, most recent activity data suggested the economy was accelerating during the fourth quarter, Capital Economics analysts said. This supported a view that "SA’s long-su...
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