South African equities faced continued declines on the JSE FTSE Top 40 index, which fell 0.65% below the 84,000-point level, with 15 of 20 sectors experiencing losses. The energy minerals sector led the decline at 3.68%. Major stocks like Naspers and Gold Fields also suffered, while a few like Standard Bank showed minor gains. Moodys and the Bureau for Economic Research downgraded the economic outlook, citing issues such as infrastructure inefficiencies. Although potential interest rate cuts by the SARB could support market recovery, uncertainties continue to loom for South African equities.
South African equities continued to decline as market sentiment soured, largely due to economic outlook downgrades and ongoing domestic and global uncertainties.
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