The JSE all share opened weaker on Monday on what is expected to be a subdued trading day, with US markets closed for a public holiday. The Dow closed 0.09% off on Friday. Asian markets started the week in the red, with the Nikkei 225 dropping 0.69% and the Hang Seng 0.79%. Volumes were below R1bn about 30 minutes after the opening, lower than average trade volume at the time. Naspers took the lead among the losers, dropping 1.84% to R3,205.63 amid ongoing concern about a further crackdown by Chinese authorities on gaming in the country. Chinese internet company Tencent, of which Naspers owns about a third, has been hit hard by these steps as it is the biggest games-downloading company in the country. It was down nearly 3% in Hong Kong trade. Naspers lost 7.7% last week. Rand hedges were also lower in risk-off trade, despite the weaker rand. Expectations are that the rand could lose further ground in the week amid indications that US President Donald Trump will implement further tar...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
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.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.