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South Africa Stocks Rally to Record as Tencent Surge Boosts Naspers


South Africa Stocks Rally to Record as Tencent Surge Boosts Naspers
By
January 25, 2021
(Bloomberg) South Africa’s main stocks index jumped 2.1% as of 10:07 a.m. in Johannesburg, setting a fresh intraday record, as Naspers Ltd. was lifted by a surge in partly owned Chinese online giant Tencent Holdings Ltd. Retailer Woolworths Holdings Ltd. was also among the leading gainers, soaring the most since 1998 after an upbeat trading statement.
Asian stocks and U.S. and European equity futures rose Monday as investors focused on the prospect of additional fiscal stimulus and supportive Federal Reserve policy amid the worsening pandemic.
Naspers advanced as much as 8.1%, the most in 10 months, to a new all-time high as Tencent jumped 11% in Hong Kong, the most since 2011. Naspers subsidiary, Prosus NV, which holds the company’s 31% stake in Tencent, climbed 7.4% to the highest level since the company was carved out of the tech investor in September 2019. ....

South Africa , United States , Hong Kong , South African , Nedbank Group Ltd , Cashbuild Ltd , Glencore Plc , Royal Bafokeng Platinum Ltd , Momentum Metropolitan Holdings , Northam Platinum Ltd , Sanlam Ltd , Group Plc , Impala Platinum Holdings Ltd , Retailer Woolworths Holdings Ltd , Absa Group Ltd , Massmart Holdings Ltd , Federal Reserve , Old Mutual Ltd , Foschini Group Ltd , Sibanye Stillwater Ltd , Anglo American Plc , Pickn Pay Stores Ltd , Tencent Holdings Ltd , Gold Fields Ltd , Chem Pharmacies Ltd , Shoprite Holdings Ltd ,

South Africa Stocks Rally to Record as Tencent Surge Bo...


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(Bloomberg)  
Asian stocks and U.S. and European equity futures rose Monday as investors focused on the prospect of additional fiscal stimulus and supportive Federal Reserve policy amid the worsening pandemic.
Naspers advanced as much as 8.1%, the most in 10 months, to a new all-time high as Tencent jumped 11% in Hong Kong, the most since 2011. Naspers subsidiary, Prosus NV, which holds the company’s 31% stake in Tencent, climbed 7.4% to the highest level since the company was carved out of the tech investor in September 2019.
Tencent Jumps as Citi Boosts Target, Kuaishou Seeks $5.4b IPO
Woolworths climbed 15% after saying it experienced improved trading momentum across all businesses in the final six weeks of the period ended Dec. 27. ....

South Africa , United States , Hong Kong , South African , Nedbank Group Ltd , Cashbuild Ltd , Glencore Plc , Royal Bafokeng Platinum Ltd , Momentum Metropolitan Holdings , Northam Platinum Ltd , Sanlam Ltd , Group Plc , Impala Platinum Holdings Ltd , Absa Group Ltd , Massmart Holdings Ltd , Federal Reserve , Old Mutual Ltd , Foschini Group Ltd , Sibanye Stillwater Ltd , Anglo American Plc , Pickn Pay Stores Ltd , Gold Fields Ltd , Chem Pharmacies Ltd , Shoprite Holdings Ltd , Investec Ltd , Pan African Resources Plc ,