South African Stocks Climb to Record as Tencent Boosts Naspers
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South African stocks climbed to an all-time high on Wednesday, with Naspers Ltd. leading gains as shares in Tencent Holdings Ltd. jumped to a two-week high in Hong Kong.
Naspers, which owns 34 percent of Tencent, advanced 2.9 percent to the highest since Feb. 2 after the Hong Kong-based company reported an increase in transactions during the Chinese New year’s Eve. SABMiller Plc gained 1.9 percent to a five-month high amid speculation the world’s second-biggest brewer may be a takeover target.