R98-billion computer glitch on the JSE

This is serious.

http://www.moneyweb.co.za/news/economy/jse-error-shows-foreigners-continue-to-sell-sa-equities/

THE rand was on a firmer footing on Friday morning, after hitting its best level to the dollar in more than two months overnight in what analysts attributed to the continuing global search for yield.

SA has attracted more than R100bn in equity and bond inflows since the beginning of June, according the JSE data.

While the portfolio inflows augured well for the rand, which hit highs of R14.1626 to the dollar on Thursday, they rendered the local currency vulnerable to swings in global market sentiment.

Reserve Bank governor Lesetja Kganyago underscored this dynamic at the conclusion of the meeting of the monetary policy committee, which left interest rates unchanged as expected.

"While the rest of the emerging market world struggles, Turkey and Russia, being the ones to highlight, SA seems to be the destination ... for all that investment cash," Standard Bank analyst said in a note.
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http://www.bdlive.co.za/markets/201...nvestors-snap-up-local-assets-at-healthy-rate

YIELD-seeking foreign investors snapped up local assets at a healthy rate last week, continuing a trend that gathered momentum in June.

A net amount of R19.8bn flowed into bond and equity markets last week, with the latter accounting for the lion’s share, according to the JSE data.

The strong portfolio inflows, totalling just more than R100bn since June, have boosted the value of the rand, which helps keep consumer inflation in check.
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If keeping interest rates were kept unchanged because of these previous false announcements, then surely it being found a glitch should mean interest rates should increase?

Let's see if the Rand tanks today :(
 
Considering how much the JSE charges anyone who wants to disseminate stock market data this is pretty unforgivable. Not to mention the skewing effect it has on policy and sentiment. There's a real risk that the Rand and market will tank today as the fact that the figures were basically a bunch of hooey reaches the broader investment community.

Oh, and misrepresenting -R36bn as +R96bn is actually a R132bn computer glitch.
 
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Honestly just shows how screwed up the worlds money market is really. Everything is based on numbers on a computer. There is no physical medium to back up the 1 and 0 on the computers.
 
So unless the markets haven't opened yet, this news hasn't even really caused a blip on the radar.
 
this could not be considered a glipsie... oops is surely not enough. those okes who want to start a rival exchange must me laffing their asses off...
 
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