Trump’s China tweet likely to cheer the JSE
The US president tweeting he had good talks with the Chinese president lifted Tencent in Hong Kong trade, which is good news for Naspers
The JSE is likely to benefit from a surge in Chinese stocks after what US president Donald Trump described as “a long and very good conversation with President Xi Jinping of China”.
Trump’s tweet sent Naspers’s main asset, Tencent, up 6.55% to HK$296, indicating the largest constituent in the JSE’s top 40 is in for another good day after Thursday’s 8.56% and Wednesday’s 9.4% surges. Hong Kong’s Hang Seng index was up 2.4% and mainland China’s Shenzhen composite index was up 2.47% ahead of the JSE’s opening on Friday morning. Hopes of a better relationship between the US and China also appears to have helped the rand overnight...
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