US-China Valentines Day date helps ease some of JSE’s gloom
Naspers helped the JSE rise despite Tencent falling on news it invested $150m in Reddit, an outspoken online forum banned in China
Hopes of a Valentines Day reconciliation between the US and China buoyed Asian stocks on Tuesday morning, helping the JSE overcome some of the gloom that Eskom has plunged SA into. US treasury secretary Stephen Mnuchin is scheduled to lead a delegation to Beijing on Thursday for talks aimed at resolving a tariff war over US complaints about Chinese technology ambitions, Dow Jones reported. The talks are the last scheduled high-level meeting before an agreement by both sides to suspend further punitive action against each other's goods expires on March 1. Optimism that the talks will go well sent Tokyo's Nikkei 225 up 2.61% on Tuesday morning ahead of the JSE's opening. Naspers's main asset Tencent invested $150m in US social media site Reddit, which is banned in China for not practising any censorship on user comments, no matter how obnoxious and offensive. Bloomberg noted the irony in an opinion piece titled Tencent is the kind of bogeyman Redditors thrive on: “One exists to give n...
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