The JSE languished in the red in midday trade on Monday in line with its global counterparts amid concerns over China's monetary tightening measures.
At noon, the JSE all share index shed 0.86 percent, with resources off 1.72 percent, while gold miners and platinum miners declined 0.99 percent and 0.72 percent respectively.
Banks wavered 0.52 percent, financials shipped 0.42 percent and industrials were 0.16 percent weaker.
The rand was bid at R7.42/$ from R7.37/$ at the JSE's close on Friday.
Gold was quoted at $1 104.30/oz from U$1 110.02/oz at the JSE's last close.
Platinum was at $1 603.50/oz from $1 616.50/oz at the JSE's last close.
A local equities trader said: "Commodities are down sharply amid China's inflationary pressures."
The trader also noted tensions between the US and China after Chinese Premier Wen Jiabao said over the weekend that the Yuan isn't undervalued.
He warned other countries not to pressure China over its exchange-rate policy on Sunday.
Dow Jones Newswires reported that European stocks were marginally lower Monday, with investors cautious ahead of the US Federal Reserve and the Bank Of Japan's rate-setting meetings later this week.
Meanwhile, worries about China's strategy, Germany's trade surpluses and the latest comments from Moody's on the ratings of the US and three major European economies weighed on global equities.
Traders noted that French finance minister Christine Lagarde had questioned Germany's policy of favouring export-led growth in the euro zone, and that Chinese premier Wen Jiabao had criticised external pressures, notably from the US, for a renminbi revaluation, noted Ian Williams, strategist at Altium Securities.
"Such tensions do present an ongoing risk to a sustainable global recovery," he said.
Meanwhile, the four large Aaa-rated countries, the UK, the US, France and Germany face "an increasingly delicate balancing act" as they consider spending cuts to reduce government debt, Moody's Investors Service said Monday in a review of these countries' ability to retain their coveted top credit ratings.
Looking ahead, the US Federal Reserve is expected to leave interest rates unchanged, but analysts are on the lookout for possible changes to the wording of the Fed's statement.
Reports also suggest the Bank of Japan may announce an extension of its liquidity operations.
In Asia, stock markets were mostly lower early Monday, with shares in China and Hong Kong weighed down by lingering worries over fresh monetary tightening measures from Beijing.
Chinese shares ended at their lowest close in five weeks, with the benchmark Shanghai Composite ending down 1.2 percent, or 36.47 points, at 2 976.94, its lowest close since February 9.
Hong Kong's Hang Seng was down 0.6 percent.
On the calendar on Monday, traders will be waiting for news from a meeting of euro-zone finance ministers in Brussels as well as US industrial production data and the Empire State manufacturing index.
On the JSE, Anglo American dropped R7.40 or 2.43 percent to R297.50 and BHP Billiton fell R5.98 or 2.41 percent to R241.92. Sasol shed R1 to R284.
Platinum miner Angloplat lost 83 cents to R698.17 and Impala Platinum shifted R1.62 lower to R196.39.
Lonmin fell R5.38 or 2.41 percent to R218.12.
Among gold miners, Anglogold Ashanti declined two rand to R278 and Harmony declined 135 cents or 1.86 percent to R71.13.
Kumba Iron Ore shipped R2.01 to R350.49.
Among industrials British American Tobacco leaked R2.40 to R247.95. Nampak moved 49 cents or 2.69 percent lower to R17.71.
Banker Standard Bank dropped R1.30 or 1.14 percent to R113.20.
Retailer Lewis was 96 cents or 1.64 percent softer at R57.75, Massmart declined R2.25 or 2.17 percent to R101.64, along with Mr Price, down 85 cents or 2.05 percent at R40.65.
Among construction groups, WBH Ovcon slipped R2.56 or 2.17 percent to R115.43 and Group Five wavered 93 cents or 2.64 percent to R34.32.
Media group Caxton added 49 cents or 3.16 percent to R16.
In other news Primeserv Group, the investment holding company, on Monday reported a dip in its full year diluted headline earnings per share (HEPS) to 10.51 cents from 15.04 cents.
The company reported a net profit attributable to shareholders of R11.5 million for the 12 months to end December 2009, compared to R17.5 million for the 12 months to end December 2008.
Consolidated group revenue for the review period declined by 3 percent from R539.9 million to R523.5 million as businesses continued to bear the effects of the global economic slowdown.
Group EBITDA fell by 19 percent from R23.6 million to R19.1 million with operating profit down by 20 percent from R21.8 million to R17.5 million. - I-Net Bridge
