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South African stocks wipe out 2022 losses after China boost
The gains remind us of how South African equities stand to benefit from China reopening its economy.
By Khuleko Siwele
Better news from China on Tuesday gave South African stocks the boost they needed to erase their losses for 2022.
The main index climbed as much as 1.1% as Chinese markets rebounded, briefly wiping out this year's declines, with sentiment soothed by an easing in the protests over Covid restrictions that had unnerved global investors. The gains are a reminder of how South African equities stand to benefit from China reopening its economy, given the influence of commodities, technology and even luxury retail on the Johannesburg bourse.
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