Record gains by Naspers and Prosus almost wipe out JSE’s 2022 drop
All share index rises 4% as both companies climb by more than a fifth
16 March 2022 – 18:57
After two days in which it dragged the broader market, record gains by the Naspers stable led the JSE to its first advance in four days — almost wiping out its 2022 drop — as pledges by Chinese officials to boost the economy and business confidence gave a lift to its most valuable asset.
The JSE all share index jumped as Naspers and Prosus, the Amsterdam-based technology investor through which it holds a 29% stake in Chinese technology giant Tencent, both rose by more than a fifth. The gains came as the Chinese company rallied from its recent brutal sell-off, surging by 23%, after losses of about 10% both on Monday and Tuesday…
Source: businesslive.co.za