Naspers: Tencent sell-off hurts local shares

Published Jan 27, 2014

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Shares of South African media and e-commerce firm Naspers dropped over 5 percent on Friday, tracking a slide in Chinese internet firm Tencent Holdings, which was hit in a sell-off of Hong Kong-listed firms. Tencent, in which Naspers owns over 30 percent, fell 4 percent on Friday, as investors sent Hong Kong stocks to their lowest close since November on lingering worries about Chinese growth.

Shares of Naspers closed 5.22 percent lower at R1 089.61. – Reuters

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