6 days ago
JPMorgan, Goldman Sachs See More Upside for South African Stocks
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South African stocks are poised to extend their rally in the second half, buoyed by an improving outlook for the domestic economy and supportive monetary policy, according to JPMorgan Chase & Co.
The FTSE/JSE Africa All Share Index is up 23% this year in dollar terms, outperforming both the MSCI Emerging Markets Index and the S&P 500. JPMorgan expects the momentum to continue led by South Africa Inc. shares as they stand to benefit from local economic tailwinds.
