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JSE could decline on global equity markets drop

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Tencent decrease suggests a weak start for heavyweight Naspers, which owns 31% of the technology group

A man looks at an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan, in this file photograph. Picture: REUTERS/KIM KYUNG-HOON

Hong Kong’s Hang Seng Index was 1.8% lower at the lunch break, with Tencent down as much as 2.8%. That suggests a weak start for JSE-heavyweight Naspers, which owns 31% of the technology group. On Friday, the S&P 500 Index dropped 1.9% in the US after the yield curve in that country inverted. The spread between three-month Treasury bill rates and 10-year notes turned negative for the first time in more than a decade — stoking concerns that the US is headed for a recession.

The company said earlier in March its headline earnings per share will be 2.6c-7.1c for the year, from a headline loss per share of 22.54c previously.

 

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