The JSE dipped a little on Wednesday, as investors further trimmed their exposure to the recently high-flying resources sector.The resources index shed almost 2%, pulled down by the larger diversified miners. Weaker iron ore and copper prices, coupled with broker downgrades of some of the shares, dented sentiment in the sector.As a result, the all share was off 0.14% to 59,434 points by lunchtime, its weakest point in nearly two weeks.A strong performance by industrial heavyweight Naspers, however, kept losses in the overall market in check. Naspers rose 2.98% to a record R3,698.50, following gains by Hong Kong-listed Tencent, in which it owns about a third.The buoyant market reaction followed third-quarter results from Tencent, which reported a 69% rise in net profit to $2.71bn on a year-on-year basis.Sentiment elsewhere in the local share market was mostly weaker, though part of it came from trading updates.Netcare was a case in point, with its shares falling 6.3% to R23.66, after...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.