South Africa’s economy is 11% bigger than previously estimated, after statistics authorities changed the way they calculate GDP.
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Chinese technology shares rallied in Hong Kong on Monday as bargain hunters pounced in the wake of the sector’s worst rout in months.
Even a $1.5-trillion selloff may not provide an attractive entry point for equity investors as they grapple with cascading risks in China’s technology sector.
The deal between South Africa’s Naspers and its spinoff Prosus this week caused havoc, with the JSE forced to delay opening by hours on Wednesday amid the rush of rebalancing trades.
The five-and-a-half-hour outage on the JSE that prevented traders buying and selling stocks until well into the afternoon on Wednesday was not a good signal for a bourse that touts itself as Africa’s finest.
The rand, which managed to avoid a major blowout following riots in two of South Africa’s key provinces in July, finally gave way and weakened below the psychological R15 to the US dollar level on Thursday.
The JSE equities trading market failed to open on Wednesday for technical reasons, causing enormous frustration in the investment community.
The start of equities trading on the JSE was delayed on Wednesday because the bourse was unable to fully process transactions from a record volumes in the previous session.
Chinese gaming and social media giant Tencent Holdings posted a 29% rise in second quarter profit, a slower pace of growth after the coronavirus pandemic led to a boom in online gaming last year.
MTN Group is once again worth more than rival Vodacom Group after a surge in the former’s share price following publication of solid interim results last week.