Naspers Jumps Most Since 2014 on Double Boost From MSCI, Tencent
- Indexer won’t cut stocks with multiple classes from benchmarks
- Hong Kong rally for internet giant Tencent also helps Naspers
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Naspers Ltd. soared the most in close on four years Wednesday as investors got two pieces of good news.
Naspers benefited from a 5.9 percent rally in its 31 percent-owned Tencent Holdings Ltd. in Hong Kong, the biggest gain for the Chinese internet giant in 2 1/2 weeks. Secondly, index compiler MSCI Inc. said overnight it has decided against penalizing companies with multiple share classes -- like Naspers -- with reduced representation in its equity benchmarks.