News that Chinese ride-hailing giant Didi is planning to delist in New York is putting pressure on tech stocks, while the rand is steady below R16/$
The JSE looks set to open to mixed Asian markets on Friday morning, but Tencent and other tech stocks were under pressure after Chinese ride-hailing giant Didi announced plans to delist in New York.
Global focus this week is generally on the Omicron variant, and just how severe a threat it poses to the global economy. The JSE, however, has fared relatively well, bouncing back from last week Friday’s slump. The local bourse needs to lose about 3.5% to reach last week’s close. On Friday, however, the JSE eased back a bit from Thursday’s record 71,198.08 points.
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