JOHANNESBURG, Sept 27 (Reuters) - The South African rand
ended stronger after a volatile day of trading on Monday, helped
by receding fears of widespread market contagion from indebted
Chinese developer Evergrande.
At 1640 GMT, the rand traded at 14.9125 against the
dollar, around 0.3% firmer than its previous close.
Evergrande owes $305 billion and has run short of cash, and
concerns its problems could ripple through China's financial
system and beyond have overshadowed trade on global markets in
But some of those fears are ebbing after China's central
bank vowed to protect consumers exposed to the housing market on
Monday and injected more cash into the banking system.
The domestic focus this week is on economic data releases
including August credit numbers, producer price
inflation and trade figures, all due
Africa's most industrialized nation performed strongly in
the first half of the year, with sectors like mining expanding
strongly on the back of bumper commodities prices, but it
suffered a sharp knock in July when some of the worst rioting in
the post-apartheid era broke out.
Last week, the central bank said an economic bounce back was
mostly done as it held its main lending rate.
Johannesburg-listed stocks were mixed on Monday.
Financial shares, considered a barometer of local economic
prospects, posted losses with a banking index down
0.73%. But a resources index rose 0.86%.
The Johannesburg Stock Exchange's All-share index
closed up 0.23% at 64,197 points, while the Top-40 index
ended up 0.25% at 57,784 points.
(Reporting by Alexander Winning and Promit Mukherjee
Editing by Mark Potter)