The FTSE/JSE All Share index closed up 1.1% at 64,049 on Thursday, its highest since September 15th and extending gains to a third straight session, as global investors welcomed an easing of concerns over Chinese property giant Evergrande, while also digesting the Federal Reserve’s latest policy announcement. Federal Reserve Chair Jerome Powell said the US central bank could begin scaling back asset purchases in November and signalled interest rate increases may follow more quickly than expected. Meanwhile, the South African Reserve Bank decided to leave the repo rate at a record low of 3.50%, as inflation remains well-anchored around the 4.5% midpoint of the target range, while South Africa's economic recovery is still fragile. South African financial markets will be closed on Friday, September 24th, for a public holiday.
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Historically, the South Africa Stock Market Index (Composite) reached an all time high of 69813.78 in August of 2021. South Africa Stock Market Index (Composite) - data, forecasts, historical chart - was last updated on September of 2021.
The South Africa Stock Market Index (Composite) is expected to trade at 61342.63 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 56526.50 in 12 months time.