The JSE extended losses by noon on Wednesday led lower by sharply weaker resource and platinum counters as market participants took profits after the market's recent rallies.

By 11.58am, the JSE all share index had lost 2.44 percent with resources down 3.57 percent and platinum counters giving up 4.13 percent. However, gold stocks collected 0.82 percent.

Banks were down 1.26 percent, financials weakened 1.51 percent and industrials were off 1.58 percent.

The rand was last bid at 8.05 to the dollar from 8.08 when the JSE closed on Monday. Gold was quoted at $933.30/oz a troy ounce from $933.25/oz at the JSE's last close, and platinum was at $1204.50/oz, from $1215/oz at its previous close.

"It's not surprising to see some profit taking after the big moves," a Johannesburg-based trader said.

"We have run very, very hard. Overseas markets are also down. There is a swing out of equities and into the dollar, even the oil price is starting to dip.

"We also have the futures close-out tomorrow so there is also some volatility. Money is being taken off the table, but we may reach levels where we see some buying come into the market again.

"I don't think anything has changed from a fundamental point of view, there is just profit taking worldwide," he said.

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