China’s tech stocks fell once again on Wednesday as firms backed by Tencent Holdings came under pressure after the firm pared investment in the sector for a second time in two weeks.
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Government is concerned about the impact that power outages had on the economy in the second quarter.
Apple on Monday became the first company to hit a $3-trillion stock market value, before ending the day a hair below that milestone.
MTN Group had a barnstorming 2021. The telecommunications group, despite its size, was the best performer among technology shares in South Africa last year.
Big Tech powered US stocks to a third straight winning year in 2021, as giants such as Apple and Microsoft continued to see strong demand.
Huawei has pledged to step up investment in software and digital power technology, seeking to overcome US sanctions that dragged sales to a fifth straight slump.
South Africa’s recovery from its deepest economic contraction in almost three decades risks stalling due to the fallout from a fourth wave of coronavirus infections.
Tencent will hand a R258-billion JD.com stake as a dividend to its shareholders, raising questions about its plans for other holdings.
Naspers Foundry has invested R54-million in car subscription company Planet42 as part of a R91-million total equity funding round.
China’s biggest live-streaming and e-commerce platforms saw shares drop after the country slapped an unprecedented tax evasion fine on a top influencer.