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South Africa’s main stock index halted a three-day rally, falling 0.2%, as weakness in index giants Richemont, Naspers Ltd., BHP Group Plc and Anglo American Plc overpowered the risk-on gains seen in many Asian markets earlier on today.

A South African index of banking stocks jumped 2.9%, buoyed by the local currency. Absa Group Ltd. led the advance, rising 3.3%.

Standard Bank Group Ltd. +3.1%, FirstRand Ltd. +3%, Nedbank Group Ltd. +2.7%, Capitec Bank Holdings Ltd. +2.3%

South African Stocks Miss Out on Stimulus Rally as Heavyweights Fall

South Africa’s main stock index rose 0.3% as of 4:32 p.m. in Johannesburg, advancing for a fourth day, with gold producers and banks among the leading gainers. The benchmark erased a decline of as much as 0.6% earlier in the session.
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