David Shapiro on swapping out data for company insights; the China way

As is customary for a Monday, Sasfin Securities David Shapiro brings us up to speed with the financial markets. Bloomberg published data showing foreigners are net sellers of South African equity so far in 2022, despite the JSE All Share Index climbing 3% in the first two trading weeks of the new year. Foreigners selling South African assets has been a common theme for several years but given their importance to the price action, the data and JSE’s performance over the two-week period is contradictory, which Shapiro explains. Naspers’ strong start to the year is questioned given the muted price action in its crown jewel Tencent. Shapiro outlines there might be other factors at play between the price dynamics of Prosus, Naspers and Tencent. Lastly, the economic data coming out of China – showing GDP growth of 8.1% in 2021 – is discussed at length.   Learn more about your ad choices. Visit megaphone.fm/adchoices