The JSE had a spectacular trading session on Wednesday after Tencent Holdings’ shares leapt more than 23% in Asian trading.
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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.
Digital bank TymeBank is expanding into the medical insurance space, with a plan to offer South Africans access to private healthcare starting at R139/month.
Tencent denied talk that it’s facing a major regulatory crackdown in China, issuing an unusually aggressive public response. Shares in Naspers still tanked.
Meta Platforms has tumbled out of the world’s 10 largest companies by market value, hammered by its worst monthly stock decline ever.
The extent of the Chinese tech stocks’ underperformance when compared to the US is astounding. By Anchor Capital’s Seleho Tsatsi.
Omicron has breached the political, financial and technology centres of China for the first time, raising concerns about global supply chains.
Tencent Holdings is nearing a deal that could help the tech behemoth further its ambitions for the metaverse.