Naspers heads towards recent highs as JSE follows Asian stocks up
Asian stocks were buoyed by renewed commitments by the Chinese government to boost growth
The JSE followed Asian markets higher on Friday morning, with Naspers edging back towards its recent highs thanks to its investment in Hong Kong-listed Tencent. Naspers was 0.91% up at R3,172.79, close to its best level since late August 2018. Tencent was 0.4% higher. Gains were registered across all major indices bar the resources index, which was flat. The JSE’s top-40 index added 0.52% and the all-share index 0.46%. Asian stocks were buoyed by renewed commitments by the Chinese government to boost growth, with the Shanghai Composite Index 1% up in late afternoon trade. Hong Kong’s Hang Seng Index was 0.6% higher and the Nikkei 225 was 0.8% better. Asian markets were also boosted by China’s approval of a new law against the forced transfer of technology by foreign companies, Anchor Capital said. This was despite a flat trading session for US markets on Thursday following reports that US president Donald Trump and his Chinese counterpart, Xi Jinping, had postponed their trade discu...
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.