UPDATE 1-South Africa's rand falls on growth worries, Naspers slumps

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- reuters.com | a week ago

3:54 PM / Updated 2 hours agoUPDATE 1-South Africa's rand falls on growth worries, Naspers slumps3 Min Read(Updates prices) JOHANNESBURG, Sept 11 (Reuters) - South Africa’s rand weakened on Wednesday after data showing business confidence in the country has collapsed, undermining a push by President Cyril Ramaphosa to kick-start growth after a decade of stagnation.

Stocks rose, despite a plunge is bourse heavyweight Naspers Ltd, as the prospect of increased stimulus in major economies underpinned risk-on buying in emerging markets. At 1540 GMT the rand was 0.

79% weaker at 14.

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