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South Africa’s major equity index fell, led by Naspers [JSE:NPN] and its Prosus unit after Hong Kong-listed Tencent Holdings fell amid a growing Chinese antitrust probe of the tech sector. With a stake of approximately 31%, Prosus is Tencent’s largest shareholder.
The benchmark FTSE / JSE Africa All Share Index fell 0.8% to 58,721 at 10:25 am in Johannesburg, with cyclical sectors such as oil, automotive and travel and leisure falling the most. Without the fall of Naspers, which represents 17% of the index, the benchmark would be on the rise.
The country’s indicator continues to rise 2.8% during the year and Naspers continues to rise 24%. The rand was down 0.4%.
The worst performers of the session were the Montauk Holdings power generator [JSE:MNK], 8.2% less, and the Royal Bafokeng Platinum miner [JSE:RBP], up to 6.5%. Infrastructure builder Raubex Group [JSE:RBX] won 3.5%.
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