The JSE closed weaker on Thursday after a return for platinum and general mining stocks failed to lift the market in general, amid Naspers' weak performance.
Banks fell sharply as US bond yields fell. continue to increase, increasing the cost of Debt.
Naspers found little follow-up support after an excellent performance in the previous session, and after the Chinese Internet company Tencent soared in Hong Kong in an optimistic update.
Rand hedges were generally higher in a weaker local currency, with miners rising to a higher oil price. At the close of JSE, Brent crude traded at $ 79.97 a barrel after reaching the $ 80 mark earlier.
The rand was at R12.5506 at the close of JSE of R12.4428.
A flat opening in the Dow could not ignite the local market, despite European markets rising during most of the session.
A stronger rand tends to support local banking and financial stocks, while a weaker rand drives larger companies with offshore exposure. This was the reason why local investors benefited from a softer currency recently, said Sanlam's head of retail distribution, Gielie de Swardt.
He pointed out that the rand weakened 5.1% against the dollar and 3.4% against the euro in April. "This gave a boost in terms of rand."
Offshore investors also benefited from the MSCI global index and the emerging markets MSCI index that rewards investors abroad with returns of 13.22% and 21.74%, respectively. [19659002"Someoftheseprofitswerereimbursedfor686%ofthedollarinthelastyear"DeSwardtsaid
The dollar's higher returns also tend to attract foreign investors to invest in the local market. But so far this year, interest has been limited amid the feeling of global risk risk since the US Federal Reserve. UU It intends to keep raising rates, making the dollar firm and the yields on US bonds going up.
Locally, the good news continued, which should drive those actions with a local focus, De Swardt said. These include the International Monetary Fund (IMF) raising its forecast for the country's GDP growth in 2018 and the deceleration of inflation on an annual basis.
The total quota closed 0.75% lower at 58,184.30 points and the top 40 lost 0.83% Banks fell 3.18%, food and medicine retailers 2.01%, financials 1.65%, general retailers 1.1% and 1% industrial
Anglo American rose 1.08% to R320.61. Richemont gained 1.44% to R123.55. Impala Platinum added 3.82% to R20.40.
Investec Plc gained 1.31% at R97.24 after reporting that annual profits in 2018 increased 5.6% to £ 701m. Standard Bank fell 3.66% to R203.02.
Shoprite dropped 1.78% to R235.52.
Naspers lost 1.72% to R3,203.99.
Famous brands fell 3.29% to R103. He said in a trade update that earnings per share (HEPS) for the year through the end of March were expected to fall between 5% and 24%.
The futures index of the top 40 Alsi fell 0.62% to 52,090 points. The number of contracts negotiated was 14,950 from the 25,127 on Wednesday.