MARKET WRAP: JSE surges to another record high as Naspers surges again

The JSE set a fresh intraday record, tracking gains in index heavyweights Naspers and Prosus, while the rand extended its decline above R15/$ on concern SA’s ballooning government debt may expand further as Covid-19 continues to ravage the economy.

The all share index surged above 65,000 points after Citigroup lifted its price target on Tencent shares by 19% to HK$876, prompting an 11% jump in shares of the Chinese internet giant, in which Naspers holds a 31% stake via its international arm, Prosus…