South African stocks, rand start year lower on weak China data
The JSE securities exchange's Top-40 index hit a session low of 44,564.98 and was down 2.6 percent at 44,610.70 by 0834 GMT.
The rand weakened 1.1 percent to 15.6320 to the greenback compared with its Dec. 31 close of 15.4600.
"It is a continuation of what happened last year. There is massive risk aversion because China's stocks are down and there are tensions between Saudi Arabia and Iran," ETM Analytics analyst George Glynos said.
The local currency lost about a quarter of its value against the greenback in 2015, mainly as investors dumped emerging markets in anticipation of higher U.S. interest rates.
Concerns about weak growth in Africa's most developed economy also weighed and the shock removal of the finance minister in early December triggered a heavy sell-off that pushed the currency to a historic low of 16.0485.
The Gold Mining index bucked the downward trend on Monday, rising more than 5 percent after bullion's spot price jumped more than 1 percent as its safe haven status was bolstered by rising Middle Eastern tensions.
In fixed income, the yield for the benchmark 2026 government bond added half a basis points to 9.775 percent. (Reporting by Stella Mapenzauswa and Ed; Stoddard; Editing by Andrew Heavens)
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