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JSE stocks drop as Naspers gets hit by tech exit
South Africa’s main stock index dropped 2.4%, its deepest slump since mid-June, as market behemoth Naspers Ltd. got caught up in a global rotation out of tech shares and as miners retreated.
Tech investor Naspers fell 3.9%, the most in almost a month, after partly owned Chinese online giant Tencent Holdings Ltd. led declines in Hong Kong stocks and as the Nasdaq 100 sank as much as 5.4% in New York.
[Bloomberg]
South Africa’s main stock index dropped 2.4%, its deepest slump since mid-June, as market behemoth Naspers Ltd. got caught up in a global rotation out of tech shares and as miners retreated.
Tech investor Naspers fell 3.9%, the most in almost a month, after partly owned Chinese online giant Tencent Holdings Ltd. led declines in Hong Kong stocks and as the Nasdaq 100 sank as much as 5.4% in New York.
[Bloomberg]