(Updates to reflect afternoon trade, adds analyst comment)
JOHANNESBURG, March 29 (Reuters) - South Africa's rand
and stocks rose on Wednesday, as regulations to mitigate the
U.S. banking crisis boosted global confidence.
Regulators allayed some fears over a global banking system
failure sparked by the collapse of U.S. Silicon Valley Bank
earlier this month, which restored some risk appetite to
markets.
At 1527 GMT, the rand traded at 18.1025 against the
dollar, 0.28% stronger than its previous close.
The dollar index , which measures the currency against
six rivals, was last up about 0.19% at 102.68.
At the week's halfway point, volumes and activity were low
on the Johannesburg Stock Exchange, said Sasfin equity
strategist David Shapiro.
"At least we're in a steady incline, slowly clawing our way
up just along the board," Shapiro added.
The blue-chip Top 40 index closed 0.6% higher,
while the broader all-share index rose 0.57%.
Local stocks were lower than global counterparts with the
MSCI All-World index , which captures equity
performances across 23 developed economies, was up slightly at
0.15%.
Local investors will now turn their focus towards the South
African Reserve Bank's (SARB) rate decision on Thursday, with
markets expecting a 25-basis-point increase.
The government's benchmark 2030 bond was
stronger, with the yield down 7.5 basis points to 9.815%.
(Reporting by Nellie Peyton and Tannur Anders;
Editing by Bernadette Baum, Bhargav Acharya and Sharon
Singleton)
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