The JSE fell to a five-week low on Tuesday, dragged down by a handful of big industrial and resource stocks. Naspers, which is far by the biggest share on the local equity scene, fell a hefty 4.08% to R3,481.99 in sympathy with Hong Hong-listed Tencent, in which it holds about third. Other global tech companies were consolidating, after enjoying a terrific run throughout 2017. Unum Capital analyst Michael Porter said money could be rotating out of tech stocks into new sectors, after the US senate passed tax reform bill As result, the all share was down 1.31% to 58,826.40 points at lunchtime, its weakest point since October 31, as the industrial 25 index shed 1.9%. Another big industrial share, Steinhoff, was still haunted by accounting irregularity claims, which the company has consistently denied, but has thus far not been able to convince the market. On Monday, Steinhoff said it would press ahead with the release of its results for the year to end-September in an unaudited form on...
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