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Naspers rises in technical rebound

Johannesburg - Shares of South African e-commerce and media group Naspers rise more than 1.50 percent in a technical rebound after falling almost 6 percent in the previous session in a slide triggered by a sell-off of Chinese Internet giant Tencent Holdings, of which it owns more than a third.

Naspers' shares are 1.60 percent higher at 1,057.70 rand.

Tencent headquarters at Nanshan Hi-Tech Industrial Park in the southern Chinese city of Shenzhen. Credit: REUTERS

In the previous session, the share had strayed into oversold territory, according to its 14-day RSI, a momentum indicator tracked by technical analysts. - Reuters

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