South African Stocks Slide, Trimming Best First Quarter in 15 Years

The Telkom Tower and city tower blocks in Johannesburg.

Photographer: Waldo Swiegers/Bloomberg

South African stocks halted a three day gaining streak, falling 1.1% by 10:25 a.m. in Johannesburg and paring the benchmark equity index’s strongest first-quarter performance since 2006. Local heavyweights Naspers Ltd. and Richemont joined banks as well as gold and iron-ore producers to drag the market lower on a risk-off day.

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