JOHANNESBURG: South Africa's rand fell in early trade on Monday amid subdued risk appetite after a shock contraction in Chinese exports pointed to deepening cracks in the world's second-biggest economy, raising fears of a sharper slowdown in global growth.
* At 0618 GMT, the rand traded at 13.9175 per dollar, 0.6 percent weaker than its New York close on Friday of 13.8350.
* "ZAR traded slightly weaker this morning due to much weaker-than-expected Chinese exports and imports figures for December," analysts at NKC African Economics said in a note.
* Latest data from China showed imports contracted 7.6 percent year-on-year in December when analysts had predicted a 5 percent rise while exports unexpectedly dropped 4.4 percent, confounding expectations for a 3 percent gain.
* The disappointing numbers reinforced fears U.S. tariffs on Chinese goods were starting to take a heavy toll on China's already cooling economy.
* Locally, focus this week will mainly be on the South African Reserve Bank interest rates decision on Thursday. The bank is expected to hold rates at 6.75 percent, according to a Reuters poll.
* In fixed income, the yield on the benchmark government bond due in 2026 added 5 basis points to 8.82 percent in early trade.
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