By Ukumbi Afrika 
Johannesburg—Offshore investors turned cautious on South African equities last week, selling a net 70.5 million rand ($4.40 million) worth of stocks, according to Johannesburg Stock Exchange data.
At the same time, foreign investors increased their exposure to South African bonds, with net purchases reaching 19.06 billion rand, settlement data showed.
The contrasting flows point to stronger demand for South African fixed-income assets even as foreign investors reduced their equity positions.
The South African rand was trading at 16.0191 per U.S. dollar at the time of the data.
The latest figures come amid continued investor attention on South African markets, with global risk sentiment, currency movements and expectations around monetary policy influencing foreign portfolio flows. Recent market trading has also seen investors weigh developments in global bond markets and broader risk appetite.
Market Snapshot
Foreign equity flows: Net sales of R70.5 million
Foreign bond flows: Net purchases of R19.06 billion
Exchange rate: $1 = R16.0191
Market: Johannesburg Stock Exchange
Source: Reuters
Reporting: Nilutpal Timsina