| The JSE reversed all of Monday's gains yesterday as heavyweights Naspers and Prosus each toppled about 5%. The two companies largely follow the fortunes of Tencent, which accounts for all their value and then some. After an 11% surge on Monday took its market value close to $1 trillion, the Hong Kong-listed internet giant fell 6.3% yesterday, with Naspers and Prosus following. They weren't alone; Cartrack also reversed some of its recent strong gains as it prepares to delist and float a new holding company on the Nasdaq market in the US, with a secondary listing on the JSE. Sibanye-Stillwater and Pepkor were the day's two other big losers. Pepkor's shares fell despite a trading update that showed decent sales growth in the final three months of last year as value retailers including Pep and Ackermans attracted more customers. More details in today's newsletter, along with an update from UK wealth manager Quilter. Meanwhile, Aveng has released the final details of a rights issue, which will see it recapitalised to the tune of R300 million. If you're a shareholders and want to take up your rights, you'll get the additional shares at 1.5c each. Finally, Orion Minerals' shares rose for a second day after it released the results of a drilling campaign near its Prieska project in the Northern Cape. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
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