Tencent, which influences the local bourse via Naspers and Prosus jumps 9.59%
The JSE looks set to be buoyed by the green screens from Asia as tech stocks rallied in Hong Kong, including Tencent up by almost one-tenth, after a positive meeting between US President Joe Biden and Chinese President Xi Jinping in Indonesia on Monday.
The Hang Seng and Shanghai composite were upbeat after the meeting between Biden and Xi on the sidelines of the G20 summit where they called for reduced tensions between the world’s largest economies. “Last week a number of Fed officials spoke after the CPI, acknowledging the better-than-expected result but warned that the tighter policy outlook hadn’t changed,” Bank of New Zealand senior market strategist Jason Wong. “It looks like we’ll get a rinse and repeat from more Fed officials this week, with two more officials already adding to this theme.”
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