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JSE confirms technical glitch behind misleading foreign trade stats

The JSE says a programming error affected the way in which it extracts statistical data from its systems.

The Johannesburg Stock Exchange building in Sandton. Picture: EWN.

JOHANNESBURG - The Johannesburg Stock Exchange (JSE) has confirmed a technical glitch that led to the miscalculation of foreign trading statistics.

The JSE says it incorrectly labelled foreigners as net buyers of South African equities.

But it says it took immediate steps to rectify the glitch.

The JSE says a programming error affected the way in which it extracts statistical data from its systems.

The computer glitch caused it to claim that foreigners had invested a little over R98 billion into South Africa over three months to July.

But foreigners had actually sold R36.35 billion worth of South African assets.

The local stock exchange says the error has been corrected and updated stats will be available on its website by close of business today.

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