The JSE opened weaker on Thursday, as Naspers slipped below R3,000 a share, with property stocks the main gainers. Property stocks were boosted by a strong showing from Nepi Rockcastle at the opening, with other stocks in the Resilient stable also firmer. Tech stocks have come under renewed pressure following a broad-based sell-off on the Dow on Tuesday. Risk-off sentiment prevailed after the benchmark US 10-year bond rose above the crucial 3%-level. The Dow closed 0.48% weaker at 24,024.13 points, the lowest level in two weeks. Asian markets were weaker, with the Hang Seng down 0.94%, dragged down by Tencent, which lost nearly 3% at one point. This placed immediate pressure on Naspers, which owns 31.2% of Tencent. Previously high-flying Naspers has been struggling to make headway this year as global sentiment towards tech stocks has cooled, with Apple closing weaker for the fourth consecutive session on Tuesday. The Nikkei 225 was down 0.28% and the Shanghai Composite 0.35%. Even t...
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