JSE rebounds 1% in broad-based gains, led by Naspers
The local bourse has recovered well from Monday's global equity sell off, although geopolitical risk and domestic woes still threaten
A strong showing by market heavyweight Naspers helped lift the JSE on Tuesday, with the local bourse recovering from Monday's sell-off. At 10am the all share was up 0.99% to 50,932 and the top 40 to 1.2%. Industrials were up 1.58% and food and drug retailers 1.01%. Global risk assets in general had come under pressure from a series of factors, including the US-China trade war issue, but news that US and Chinese officials had resumed talks improved sentiment a little on Tuesday. Citing people familiar with the matter, Dow Jones Newswires reported that Chinese officials were considering amending the Made in China 2025 plan, a state-led industrial policy aimed at enabling Chinese companies to dominate an number of industries, including artificial intelligence and robotics. Asian markets were mostly higher. Naspers led the gains by adding 3.29% to R2,840.50, with the company tracking a rise its main asset, Hong Kong-listed Tencent. Local factors also offer the prospect of giving the mar...
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