Johannesburg - The rand stumbled on Tuesday as a sharp fall in Chinese imports increased concerns over the shape of the global economy, denting the appeal of emerging market assets.
Government bonds were weaker with subdued appetite for riskier assets, while the bourse opened on the back foot, with the Top-40 index 0.1% lower at 09:03.
Stocks eased despite an 11% surge in shares of SABMiller [JSE:SAB] after the brewer accepted a R1.4trn takeover by Anheuser-Busch InBev.
READ: BREAKING: AB InBev buys SABMiller for R1.4trn in record deal
At 09:00 the rand slipped 0.15% to R13.3500/$, breaking below 13.30 in overnight trade before easing back as momentum fizzled.
China's imports fell by 20.4% in September - more than expected - to record their 11th consecutive month of decline, increasing worries that slack demand from the world's number 2 economy would hurt commodity-reliant countries.
"Unfortunately, outlook for international commodity prices remain downbeat and demand for South Africa exports from Northern Hemisphere has not showed much improvement," analysts at NKC African Economists said in a note.
In government bonds, yields were higher across the curve, with the paper maturing in 2026 adding 2.5 basis point to 8.23%.