South African stocks close weaker

JOHANNESBURG, April 4 (Xinhua) -- The Johannesburg Stock Exchange (JSE) closed weaker on Wednesday amid concerns over the trade relations between China and the United States.

The all-share index fell 0.48 percent to 54,602.68, its lowest point since July last year, as investors dumped stocks indiscriminately across most sectors.

The top-40 index lost 0.27 percent. General retailers lost 2.66 percent, industrials added 0.5 percent. The platinum index lost 1.2 percent.

Gold miners, however, fared better than most on the day, thanks to a relatively higher gold price and a weaker rand.

Spot gold was up 0.22 percent to 1,344.26 U.S. dollars an ounce.

Banks were hardest hit with the index having given up 1.35 percent, followed by a 1.61 percent drop in financials.

Naspers added in volume terms, trading 2.6 percent higher at R2,956.84. However, the market giant touched the 20 percent-loss level for the year so far.

Steinhoff plummeted 9.85 percent to R3.02.

Among the rand hedges British American Tobacco rose 3.16 percent to R705.62 as the rand weakened to just below R11.89 to the dollar.

Gold Fields gained 0.94 percent to R46.14 following its intention to buy an interest in a Ghanaian mine.

Among banks, FirstRand lost 0.94 percent to R65.69 and Standard Bank 1.36 percent to R211.86.

Shoprite slipped 2.57 percent to R243.96.

China on Wednesday unveiled a list of products worth 50 billion U.S. dollars imported from the United States that will be subject to higher tariffs, including soy bean, automobiles and chemical products.

The move was taken after the U.S. administration announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth 50 billion dollars with a suggested tariff rate of 25 percent. Enditem