Economic and Market Overview | January 2023 in review

Download the January 2023 in review Economic and Market Overview

South African equity markets had a very strong rally and ended the month nearly 9% higher. This strong performance was led by Naspers, Prosus and Richemont. Local bonds gained almost 3%.

Global markets also recovered strongly in January after a dismal 2022. The tech heavy Nasdaq gained more than 10% in US Dollars while emerging markets ended the month nearly 8% higher. Tesla, whose share price lost almost 70% in 2022, bounced by 40% in January. At USD170 per share, it’s still far off its November 2021 high of USD414 per share. Read more