JOHANNESBURG (Reuters) -The South African rand steadied on Wednesday, supported by an upbeat manufacturing survey that helped it hold its ground against a stronger dollar on global markets.
At 1545 GMT, the rand traded at 15.6350 against the dollar, little changed from its previous close.
The rand’s resilience came despite the dollar index, which tracks the U.S. unit against a basket of currencies, adding over 0.9%.
The Absa Purchasing Managers’ Index survey showed South African factory activity expanded at a faster pace in May, as new sales orders recovered following severe floods in April.
Auto association data showed vehicle sales rose 2.1% year-on-year in May.
On the Johannesburg Stock Exchange, the All-share index ended 1.7% weaker and the Top-40 index 1.8% lower, mirroring falls in global equities markets.
The losses were broad-based, with mining, technology, financial and real estate sectors all falling.
Shares in miner Gold Fields dropped 2%, extending a dramatic 20% collapse a day earlier on investor concerns that the company was paying a huge premium for Canada-based Yamana Gold.
The government’s benchmark 2030 bond fell, with the yield up 3.5 basis points at 9.87%.
(Reporting by Alexander Winning and Nqobile DludlaEditing by Mark Potter)
