From CNBCAfrica and MoneyWeb. Story by Reuters.

South Africa’s rand fell sharply Tuesday along with fellow emerging market units after China devalued its currency to support a stuttering economy.

At 6:30 a.m. GMT the rand weakened 0.53 percent to 12.7250 per dollar, not far off the previous week’s 14-year low of 12.8300.

“The effect on emerging market/high-yielding currencies was quite strong this morning,” trader Warrick Butler of Standard Bank said in a note to clients.

A move below the 12.80 support level was however unlikely, Warrick added, as negativity had already been priced into risky emerging market assets.

China’s yuan denomination slipped to a three-year trough following the devaluation, with currencies in Asia and emerging markets following suit.

South Africa’s statistics agency publishes monthly factory production numbers at 1100 GMT, with economists polled by Reuters expecting the figures to show a further contraction in industrial output.

Yields on government bonds were lower, with the benchmark issue due in 2026 shedding 1 basis point to 8.165 percent.

China’s devaluation of its currency to stem an economic slide will impact the competitiveness of South Africa’s exports, while upside risks to inflation remained due to local and global pressures, Central Bank Gov. Lesetja Kganyago said on Tuesday.

Read more at CNBCAfrica and and MoneyWeb.