South African markets ended lower as weakness in mining and technology stocks combined with fresh concerns over AI demand and global geopolitical risks.
Global markets closed the week on a cautious footing as investor sentiment was rattled by fresh concerns around artificial intelligence demand, ongoing geopolitical tensions and signs of stress emerging in private credit markets.
According to Anchor Capital, South African equities were not immune, with the JSE All Share Index slipping 0.5% to close at 112,453.44 as losses among diversified miners, technology counters and gold stocks outweighed gains in insurance and property shares.
Among the biggest local decliners were BHP, South32 and Anglo American, while technology giants Naspers and Prosus also traded lower. Gold producers including Sibanye Stillwater and Harmony Gold were under pressure as bullion prices eased.
Insurance companies provided some support, with Momentum Metropolitan gaining 2.9% and Sanlam adding 2.3%, while listed property stocks such as Fairvest and Emira Property Fund also finished stronger.
