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JSE hits an all-time high

The JSE reached an all-time high on Monday morning, led by South African technology and mining stocks.

Interim profit slipped 93% as the technology investor increased funding of its businesses and took a knock from Tencent.

Tencent Holdings on Wednesday said it will distribute most of its stake worth R350-billion in food delivery firm Meituan to its shareholders.

The Naspers unit gave up its stake in Russia’s largest social network for nothing, walking away from the company.

Naspers has rubbished an report that it is in talks with a Chinese investment company to sell all its remaining shares in Tencent.

Tencent is on track to close at its lowest point in five years as investor sentiment turned negative over China’s macro outlook.