Tencent’s share price has doubled within the space of a few months, from a low of HK$190 at the end of October 2022 to the current HK$382. Moneyweb Prosus Naspers JSE
Asset managers have had a good run so far this year. The JSE Top 40 increased by 9.5% in the first two weeks of 2023 – very close to many funds’ benchmark of inflation plus 3%. Give it another week and fund managers can take the rest of the year off. While equities worldwide, across all sectors, started the year on a positive note, the SA market jumped largely as a result of the recovery of only one share.
“Anybody who says they do have insight is … well, being naughty,” says Henkel, describing the Chinese government’s action as a “regulatory risk” that has the potential to affect Tencent, Naspers and Prosus significantly. He says the new policy of the Chinese government taking a golden share is concerning. “They are essentially embedded in the company. They can change the strategy without properly reviewing alternatives. Shareholders will never know what the alternatives were.
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