In Tuesday’s trading session in the local markets, the Top 40 closed the day up 1.28%. The Resources 10 sector went up by 0.61%, the Financial 15 went down by 0.41%, the Industrial 25 went up by 2.35% and lastly the South African Listed Property index was down 0.64%. The Rand traded at R18.18 against the Dollar, R20.89 against the Pound, and R17.97 against the Euro. Furthermore, in the regular trading session, Naspers' (JO:NPNJn) share price surged nearly 9% on the back of the performance by Tencent Holdings (HK:0700) in the Hong Kong stock market. Tencent has had a strong start to the week and month of November, where the company is currently slightly above 15% up for the week. Lastly, Naspers also released a SENS announcement denying it is in talks with a Chinese investment company regarding selling its stake in Tencent.
Figure 1: Naspers Intraday Share Price Chart (Source: Infront)
Brent Crude oil is trading at $95.45 a barrel and WTI Crude oil is trading at $89.29 a barrel. Gold is currently trading at $1651.95. Platinum is now trading at $951 and lastly, Palladium is at $1903.
Across the globe, the S&P 500 closed the day down 0.41%, the Dow Jones closed the day down 0.24% and the Nasdaq had a 1.02% drop. The FTSE 100 was up 1.29%, the DAX was up 0.64% and CAC40 was up 0.98%. In the Asian markets, the Nikkei 225 is currently down 0.06% and the Hang Seng is currently up 2.41%. The Hang Seng surged over 5% yesterday, boosted by an unconfirmed social report that Beijing is preparing to move toward shedding its strategy of managing a pandemic. In the United States, AMD (NASDAQ:AMD) reported strong performances from all four of its business segments (Datacenter, gaming, client and embedded). Match Group (NASDAQ:MTCH), which owns Tinder and Hinge, reported higher-than-expected third-quarter revenue, while Airbnb (NASDAQ:ABNB) reported a weak fourth-quarter revenue forecast. The Federal Reserve is widely expected to deliver its fourth straight 75 basis point rate hike this evening at 20:00 local time.
