S. Africa's JSE closes weaker ahead of Moody's announcement

JOHANNESBURG, March 23 (Xinhua) -- The Johannesburg Stock Exchange (JSE) tumbled sharply for a second consecutive day on Friday, ahead of Moody's announcement of the long-awaited credit rating review.

Moody's is the only one of the big ratings agencies to still rate South Africa one notch above junk, after S&P Global and Fitch pulled the trigger on the ratings in 2017.

Meanwhile, a concern about a trade war between the United States and China sent many global markets lower in choppy trading.

The all share was down a hefty 1. 43 percent to 56,405.64 at close, as the top 40 tumbled 1.51 percent to 49,755.2.

Banks and industrial were assisted by the strength of the local no to loss much ground.

The South Africa's rand that normally reacts to the global sentiment stayed put on Friday, to trade at R11.77 to the U.S. dollar, and was much firmer compared with lows of R12.11 to the U.S dollar at the start of the week.

Media and Internet group Naspers shed 4.55 percent to R3,15 but British American Tobacco recovered 3.01 percent to R656.4.

BHP added 0.15 percent to R233.73, Anglo American 3.23 percent to R273.49 and Kumba Iron Ore 3.11 percent to R293.57. But AngloGold Ashanti gained 2.27 percent to R111.31 and Gold Fields 2.17 percent to R47.55.

Leading telecom shares were not spared in the sell-off, with Vodacom losing 2.83 percent to R150.82 and MTN Group 2.67 percent to R119.

Old Mutual surrendered 2.62 percent to R39.95 and Rand Merchant Holdings 0.9 percent to R80.6. Growthpoint Properties lost 5.76 percent to R27.29 and Redefine Properties 1.73 percent to R11.35. Enditem