The JSE was wobbly as it entered the afternoon session on Friday, as panicky investors awaited more US economic data and the outcome of an annual meeting of central bankers and top financial officials in Jackson Hole, Wyoming.
By 12.02pm local time the JSE all share index had lost 0.62 percent, with resources 1.09 percent lower, and platinum miners falling 2.53 percent. Gold miners fell 0.67 percent. Banks declined 1.45 percent, financials edged down 0.77 percent and industrials shed 0.11 percent.
The rand was bid at R7.35/$ from R7.30/$ at the JSE's close on Thursday. Gold was quoted at $1 236.07/oz from $1 239.22/oz at the JSE's previous close, while platinum was at $1 531.00/oz from $1 531.50/oz before.
A trader said in the last couple of days, the market had been focusing on global economic data.
"Today is no exception as the US will release more economic data later," the trader said. "The US is expected to downgrade its GDP outlook."
The market was waiting the release of second-quarter gross domestic product data from the US and the UK, as well as a speech on the economic outlook by US Federal Reserve chairman Ben Bernanke.
The trader said volumes were light, suggesting that investors were cautious.
Dow Jones Newswires reports that that Asian stock markets were mostly weaker on Friday as concerns about the global economic recovery kept buyers at bay, while Tokyo stocks were off lows on hopes the government would soon take steps to address the yen's strength.
Markets were wary ahead of a revised estimate for US second-quarter gross domestic product due later on Friday, and a speech from Federal Reserve Chairman Ben Bernanke at an annual meeting of central bankers and top financial officials in Jackson Hole, Wyoming.
Japan's Nikkei Stock Average ended 0.95 percent higher, and Hong Kong's Hang Seng Index finished 0.07 weaker.
European stocks posted small losses on Friday, as investors remained wary ahead of economic data that will give an insight into the health of the world's largest economy. In London, the FTSE100 was 0.10 percent weaker.
On the JSE, Anglo American fell R2.92 or 1.98 percent to R259.33, BHP Billiton lost R1.53 to R203.25, and Sasol declined R2.52 to R275.50.
Among gold counters, AngloGold Ashanti shed R3.54 or 1.13 percent to R310.28, and Harmony (HAR) was down 86 cents or 1.14 percent to R74.59.
Junior miner Simmers slumped three cents or 3.19 percent to 91 cents.
Impala Platinum lost R5.04 or 2.85 percent to R171.96, Anglo Platinum fell R12.51 or 1.98 percent to R617.74, and Northam edging down R1.60 or 3.92 percent to R39.20.
Diversified miner Exxaro lost R1.50 or 1.35 percent to R109.50 to R109.50, and African Rainbow shed 3.00 rand or 1.97 percent to R148.98.
Iron ore producer Kumba slid R5.45 or 1.70 percent to R315.05.
Among industrials, SABMiller slid R1.35 to R209.50.
Remgro fell R1.54 or 1.58 percent to R96.07.
Gaming, resorts and hotel group Sun International climbed R1.00 or 1.18 percent to 86.00 rand. The company reported a 12 percent drop in its full year headline earnings per share to 562 cents from 636 cents previously.
The company resumed dividend payments by declaring a dividend of 100 cents a share.
Revenue for the year to end June 2010 declined 1 percent from last year to R8 billion, while comparable revenue - excluding Monticello in Chile and the Federal Palace in Nigeria - was 3 percent lower.
Mobile phone operator MTN gained R1.08 to R119.38.
In the banking sector, Standard Bank lost R1.62 or 1.59 percent to R100.38, Absa fell R2.47 or 2 percent to R121.03, and Nedbank was R1.48 or 1.07 percent lower at R137.12.
FirstRand followed suit, sliding 31 cents or 1.65 percent to R18.44.
In the retail sector, Massmart gained R4.55 or 3.88 percent to R121.80.
Media giant Naspers fell R5.85 to 1.99 percent to R288.55, and Kagiso Media plunged 99 cents or 6.60 percent to R14.01.
Construction group WBHO shed R2.09 or 1.86 percent to R110.51, and Basil Read shed 24 cents or 2.06 percent to R1.14. - I-Net Bridge
