Revenue at Chinese social media and gaming giant Tencent grew just 8% in the fourth quarter, the slowest pace since it went public in 2004.
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The rand has strengthened to a five-month high on expectations that the central bank will raise interest rates. Portfolio inflows also underpinned its rally.
Share buybacks are emerging as the hottest trend among Chinese tech giants and industry leader Tencent Holdings may be the next to jump on the bandwagon.
The high court has halted construction of Amazon.com’s new Africa headquarters after some descendants of South Africa’s earliest inhabitants said the land it would be built on was sacred.
Chinese authorities are considering requiring Tencent to include WeChat Pay in a newly created financial holding company.
Altron has sold its Xerox agency, Altron Document Solutions (ADS), to Xerotech, a subsidiary of Bi-Africa Investment Holdings.
The JSE had a spectacular trading session on Wednesday after Tencent Holdings’ shares leapt more than 23% in Asian trading.
Investors punished Chinese shares again on Tuesday, inflicting further collateral damage on South Africa’s Naspers and its European-listed spinoff, Prosus.
Chinese technology stocks slid for a third session on Tuesday amid concerns over Beijing’s ties with Russia and a persistent regulatory overhang.
Shares in Naspers and its spinoff Prosus tumbled on Monday after a report said Tencent Holdings faces a record fine in China.