(Updates prices, add stock indexes)
JOHANNESBURG, Aug 10 (Reuters) - South Africa’s rand slipped nearly 3 percent on Friday, slumping to its weakest level in more than 8 months in line with emerging market assets as global trade tension sparked selling pressure.
At 1352 GMT, the rand traded 2.7 percent weaker at 14.0700 per dollar, a level last seen on Nov. 27 last year.
“The rand and other EM currencies on the back foot as sentiment sours,” Rand Merchant Bank analysts said in a note, adding that this was due to “geopolitical concerns and the negative impact of the U.S.-China trade spat on global growth.”
Analysts said Turkey’s lira and the Russian rouble were hit hardest in the sell-off.
Turkey’s lira hit a new record low against the U.S. dollar in early trade on Friday, as concerns over a widening rift with the United States persisted after a Turkish delegation returned from talks in Washington with no apparent solutions to the crisis.
The rouble slid to two-year lows after Washington said it would impose fresh sanctions on Moscow.
In fixed income, the yield for South Africa’s benchmark 2026 bond was up 5 basis points to 8.860 percent.
On the bourse, the blue-chip JSE Top-40 index was off 0.07 percent while the broader All-share index gave up 0.14 percent. (Reporting by Olivia Kumwenda-Mtambo and Tiisetso Motsoeneng; Editing by Catherine Evans and Pritha Sarkar)