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MARKET WRAP: Naspers has worst day in two weeks as US-China tech spat weighs on Tencent

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The all share fell 1.56% on the day, and the top 40 1.72%, with industrials and gold miners also falling

JSE heavyweight Naspers had its worst day in a fortnight on Friday as the US clamped down on Chinese tech giants, including Prosus subsidiary Tencent.

Naspers closed 4.18% lower at R3,088.39, its worst day since July 24, while Prosus fell the most in about 10 weeks, down 3.82% to R1,676.34. This is after US President Donald Trump issued an executive order to ban US companies from doing business with TikTok-owner ByteDance, and Tencent, which owns WeChat and a big chunk of Epic Games.

 

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