South African bourse weakens as bank stocks drop

JOHANNESBURG, Jan. 10 (Xinhua) -- The Johannesburg Stock Exchange (JSE) closer weaker on Wednesday, pulled down in part by banks, as the rand extended its losses to the dollar.

South Africa's rand traded weaker on Wednesday as the previous session's brief gains gave way to a bearish sentiment that has weighed on the currency for most of the week.

The local unit, the rand, was 0.24 percent weaker at 12.44 per dollar versus an overnight close of 12.33 in New York.

The all-share index was down 0.22 percent to 59,979.63 points at the close of the session, with banks tumbling 1.03 percent. The blue-chip top 40 was off 0.03 percent to 53,167.96 points.

The weakness in the banking sector, however, came off a high base, after the sector reached a record in December, following the ANC's elective conference.

Aspen Pharmacare was down 2.53 percent to R243.81, its lowest point since February 2016. The share price was weight down by allegations that Viceroy Research was conducting a review of the pharmaceutical group.

On the JSE, Standard Bank lost 0.58 percent to R190.96 and FirstRand 0.62 percent to R63.

Scandal-tainted Steinhoff International remain flat at R7.55 and Mr Price 1.98 percent to R242.61.

Investment group PSG eased 1.77 percent to R255.40.

Anglo American was up 3.13 percent to R287.72 but Kumba Iron Ore dropped 2.9 percent to R402.47. The latter, however, is still up more than 6 percent this year. Impala Platinum rose 2.55 percent to R34.24.

WBHO slipped 2.89 percent to R143.41, while Group Five gained 3.85 percent to R13.50. Enditem