South Africa's rand weakens on China data, stocks open firmer

South Africa's rand edged weaker against the dollar on Monday as further signs of economic weakness in China and a fall in oil prices kept investors on guard, but traded below the psychological level of 16.00. The currency edged below the psychological level of 16.00 to the dollar for the first time since Jan. 7, buoyed by a central bank rate hike and improved global risk sentiment. Monday's batch of economic data from China added to worries about the health of the world's second-largest economy