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VENTURES AFRICA – The share price of JSE-listed media giant, Naspers, rerated on Tuesday morning, gaining almost 3 percent and boosted the JSE’s early trade.
Naspers lost more than 9 percent on Monday this week, pulled down by China’s Internet company Tencent’s 2 percent slip on Monday.
Naspers owns more than 30 percent of Tencent, which also fell about 5 percent on Friday in Hong Kong trade on the back of last Friday’s rapid selling of securities in emerging markets.
The All Share Index (ALSI) started higher on Tuesday’s JSE early trade.
Tencent is a Chinese investment holding firm with subsidiaries providing mass media, entertainment, Internet and mobile phone services, and operates online services in China.
It is the world’s fourth-biggest Internet firm after Google, Amazon and Ebay. It is also among Naspers cash cows.