{"id":52241,"date":"2014-01-27T15:38:22","date_gmt":"2014-01-27T13:38:22","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=52241"},"modified":"2014-01-27T16:43:48","modified_gmt":"2014-01-27T14:43:48","slug":"naspers-hammered-on-tencent","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/52241\/naspers-hammered-on-tencent\/","title":{"rendered":"Naspers hammered on Tencent"},"content":{"rendered":"

Shares in listed media and internet giant, Naspers<\/a> declined in afternoon trade on the JSE on Monday, as its investment in\u00a0Chinese Internet firm Tencent<\/a>, continues to weigh.<\/p>\n

Naspers moved R43 or 4% lower to R1,046, having\u00a0recovered\u00a0slightly from an an intraday worst level of R1,032.<\/p>\n

Tencent, which is over 30% owned by Naspers, lost 2.3% on Monday, having declined 4% on Friday, Reuters reported.<\/p>\n

Hong Kong shares fell to a five-month low amid a broad sell off in emerging markets over the past few sessions.<\/p>\n

Naspers, which owns Multichoice<\/a> locally, lost 5% in trade on Friday; however, its overall return over the past 52 weeks is at\u00a083.56%.<\/p>\n

The South African\u00a0company\u00a0has\u00a0profited\u00a0handsomely from its Chinese investment, which has surged to record levels in recent months, making its\u00a0chairman Ma Huateng<\/a>, China\u2019s richest man, according to Bloomberg\u2019s Billionaires Index.<\/p>\n

Naspers first broke through the R1,000 barrier in early December 2013, having first listed on the JSE 19 years before in September, priced at R17.50 per share.<\/p>\n

And having closed its first day at R21, the capitalised value of Naspers amounted to R2.3 billion.<\/p>\n

With a market cap now exceeding\u00a0R440 billion, Naspers is seen as the most valuable local company on the JSE.<\/p>\n

More on Naspers<\/h3>\n

Naspers revenue boosted by Tencent<\/strong><\/a><\/p>\n

Tencent expands play into mobile<\/strong><\/a><\/p>\n

Naspers hits R1,000 barrier on soft rand<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares in Naspers declined in afternoon trade on the JSE on Monday, as Tencent continued to weigh.<\/p>\n","protected":false},"author":10,"featured_media":7866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[26,175,1253,107,1977],"class_list":["post-52241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-headline","tag-jse","tag-multichoice","tag-naspers","tag-tencent"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=52241"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52241\/revisions"}],"predecessor-version":[{"id":52262,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52241\/revisions\/52262"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/7866"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=52241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=52241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=52241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}