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MARKET WRAP: Naspers drags JSE to a two-month low

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Markets will be focusing on the continuing conflict in Ukraine and the US Federal Reserve, which is expected to hike interest rates this week

Naspers dragged the JSE to a two-month low on Monday, while global markets were mostly firmer as investors pinned their hopes on Russia-Ukraine peace talks and braced themselves for a US rate hike.

Naspers fell 13.12% to R1,557.89 — the most since November 2000 — after the Wall Street Journal, citing people familiar with the matter, reported that Tencent was facing a record fine after China’s central bank discovered its WeChat Pay had violated anti-money-laundering rules...

 

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