[miningmx.com] – FOREIGN investors sold R7.9bn of South African
equities in January and February, the fastest pace in four years, said Bloomberg
News. The country is now on track for the biggest first quarter outflow since 2008, it
said.
Bloomberg News said plans by the South African government to impose a resource
rent tax, and make the state-owned mining company more prominent in the sector,
were reasons for the outflow.
At the same time, developing markets attracted $20.6bn in investment over the same
period which Bloomberg News said was the best start to a year since 2006 citing
EPFR, a Massachusetts-based research firm.
Raw-materials producers posted the biggest declines among 10 industries in the MSCI
South Africa Index this year as AngloGold Ashanti and Impala Platinum Holdings
retreated, Bloomberg News said.
