Record gains by Naspers and Prosus almost wipe out JSE’s 2022 drop

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