JSE opens higher as Naspers leads the way on firmer Tencent in Hong Kong trade
Trade tensions reduce as a meeting between US and Chinese leader is mooted, while the lira retreats further following a ratings downgrade
The JSE opened in firmer territory on Monday as Naspers led the gainers, with banks and retailers shrugging of a weaker rand. Naspers opened stronger after Chinese internet company Tencent rose nearly 4% in Hong Kong as the company rebounded from last week’s retreat following disappointing second-quarter earnings. Naspers owns 31.2% of Tencent and was up 2.99% to R3,275. Sentiment was upbeat after a higher closing by the Dow on Friday, with Chinese markets also firming, but the Nikkei 225 was lower on weaker tech stocks. Indications are that planned meetings between Beijing and Washington may ease the trade tension between the US and China. Chinese and US negotiators are mapping out talks to try to end their trade standoff ahead of planned meetings between President Donald Trump and Chinese leader Xi Jinping at multilateral summits in November, Dow Jones Newswires reported. Scheduled mid-level talks in Washington this week, which both sides announced on Thursday, will pave the way f...
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