JPMorgan Sees South African Stocks Extending EM Outperformance
- Investor sentiment, mood improving, JPMorgan’s Storey says
- OMIG says rebound from virus, quickening reforms boost stocks
Photographer: Guilerm Satario/AFP/Getty Images
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South African stocks have just closed out their strongest first half in 14 years, and JPMorgan Chase & Co. is among those forecasting further gains for 2021.
The benchmark FTSE/JSE Africa All Share Index climbed 12% in the first six months of the year, the best performance since 2007. That outpaced developing country peers, with MSCI Inc.’s gauge of emerging markets up less than 7%. Johannesburg stocks continue to trade at a discount to the MSCI gauge.