South African portfolio inflows plummets in Q2 -central bank

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PRETORIA – Portfolio investments into the South African economy fell sharply in the second quarter, central bank data showed on Tuesday.

Inward investment into South African bonds and equities shrank to 16.6 billion rand ($1.16 billion) from 89.4 billion rand in the first three months of the year, the Reserve Bank said.

The second quarter coincided with an emerging market selloff.

Appetite for bonds was hardest-hit, with non-resident investors cutting their purchases to a net 3.8 billion rand in from 46.9 billion. – Reuters Africa




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