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Banks Send South Africa Stocks to Record as Foreign Buying Persists
JOHANNESBURG (Capital Markets in Africa) – Johannesburg’s benchmark stock index rose to a record, joining a global rally, as foreign investors continued purchases amid optimism about steps to improve management of Africa’s most-industrialized economy. The FTSE/JSE Africa All Share Index rose as much as 0.9 percent to 61,610.33 Tuesday. Naspers Ltd. contributed the most to the benchmark’s advance after Tencent Holdings Ltd., in which it owns a stake, climbed to an all-time high in Hong Kong. An…
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