MARKET WRAP: Naspers drags JSE lower following Chinese authority blitz
Global risk sentiment drops even further as tech firms take another beating
Tech-heavy Naspers led losses on the JSE, while global markets were mostly weaker as China’s crackdowns on technology companies sent a ripple through global markets.
Tencent, which influences the JSE via the Naspers stable, fell another 9% on the Hang Seng on Tuesday to HK$446, bringing losses for the past two days to about 16%, after the Chinese competition authorities ordered it to stop exclusive music licensing deals. ..