(Bloomberg) -- South African’s financial markets are brimming with optimism as voters get ready to cast their ballot.Most Read from BloombergNvidia Delivers ...
There’s a widespread belief among investors that stocks, bonds and the rand will keep soaring after the May 29 election, especially as record-hitting commodity prices boost the exports that South Africa’s economy relies on. In a Bloomberg survey of 26 emerging-market investors, most were overweight or neutral on South Africa, and said they preferred the country over investing in Egypt or Nigeria, Africa’s two other powerhouses.
“The durability and extent of that rally will be determined by the ANC addressing long-standing challenges such as security, growth and fiscal issues,” said Thys Louw, a portfolio manager at Ninety One UK Ltd. “The challenges are immense, but going into the election we’ve actually seen improvement in areas such as fiscal, which is encouraging.”
There is room for further gains, according to Kamakshya Trivedi, head of global FX, rates and emerging-market strategy at Goldman Sachs Group Inc. Goldman sees South African stocks outperforming emerging-market peers ex-China, and prefers domestic cyclicals and banks over export-oriented sectors. --With assistance from Monique Vanek, Srinivasan Sivabalan, Mpho Hlakudi, Adelaide Changole and Kasia Klimasinska.Considering that Haley said Trump was unfit to be president, many people accused the former South Carolina governor of being a hypocrite.Shape-kapselit rasvanpolttoon: Hitti vai hutiFani Willis and judge presiding over Georgia Trump election case defeat challengers
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