(Adds latest prices, analyst quotes)
JOHANNESBURG, Jan 29 (Reuters) - South Africa's rand stormed to a one week best on Friday, shaking off a bout of negative sentiment that hobbled other risk markets as the high yield on offer on local assets lured investors.
At 1500 GMT the rand ZAR=D3 was 1.15% firmer at 15.0250 per dollar, having touched a session best 14.9500 earlier.
Bonds were also rallied, with the yield on the 10 year government bond ZAR2030= down 3.5 basis points to 8.735%, also near a one week best.
Positive local data also supported flows. Credit expansion ticked up, to 3.55% year on year in December from 3.38% previously. The trade balance remained in surplus, at 32.00 billion rand. And government's monthly budget balance was also in the black. data does not substantially brighten the country's economic outlook, but it did soothe short term sentiment on a global perspective which has been rattled by the assault on hedge-fund equity short positions in the United States. fell, posting their worst week in three months on dented risk appetite, with the Johannesburg Stock Exchange's Top-40 Index .JTOPI down 1.33% to 57,312 points and the broader All-Share Index .JALSH falling 1.16% to 62,472 points.
MTN Group MTNJ.J was among the decliners, after telecoms regulator said on Friday it will challenge a court application by the mobile network operator seeking to review or scrap the regulator's auction process for awarding spectrum vital for rolling out 5G technology.
Its shares closed 1.04% weaker, while its rival Vodacom VODJ.J , who also stands to be excluded from purchasing the crucial 3.5GHZ radio frequency spectrum band vital for 5G, fell 1.21%. Corporation SURJ.J fell 0.61% after it said half-year total franchised restaurant sales dropped 29.5%. Ltd SOLJ.J , however, bucked the downward trend, jumping 8.92% after the world's top manufacturer of motor fuel from coal said that profit for the half year ended Dec. 31 will more than treble.
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