JSE CEO comes clean about the stock exchange’s misleading foreign trade stats

It’s deeply embarrassing... We’re taking this extremely seriously...

Nicky Newton-King, JSE CEO

The Johannesburg Stock Exchange (JSE) has confirmed a technical malfunction that led to it incorrectly label foreigners as net buyers of South African equities.

The computer error caused it to indicate foreign investment into South Africa of over R98 billion in the three months to July.

However, foreigners actually sold R36.35 billion worth of South African assets.

The Money Show’s Bruce Whitfield interviewed JSE CEO Nicky Newton-King.

Scroll down for quotes from the audio below.

I’d be surprised if people relied on this single piece of information to make investment decisions...

Nicky Newton-King, JSE CEO

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Article brought to us by Old Mutual.


This article first appeared on 702 : JSE CEO comes clean about the stock exchange’s misleading foreign trade stats


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