Naspers makes R89 billion in one day, and $5.5 billion in Kalshi trades under scrutiny

The rand was trading at R16.19 against the US dollar on the morning of Wednesday, 23 September 2026.

South African stocks ended yesterday firmer, with the JSE All Share Index gaining 0.21% and the Top 40 Index gaining 0.26%.

Stats SA is due to release the country’s August inflation data later today, which is expected to have accelerated to 4.5% year-on-year.

This will likely impact the Reserve Bank’s interest rate decision tomorrow, with economists polled by Reuters forecasting a 25-basis-point increase.

On Wall Street, tech shares led the Nasdaq to a record high, with the index gaining 0.45%. Meanwhile, the Dow Jones dropped 0.36%, and the S&P 500 remained unchanged.

Markets are pricing in a 54% probability of another Federal Reserve rate hike in October as Treasury yields reached their highest point since mid-2024.

European indices edged up slightly as investors weighed up US-Iran tensions and energy prices, with the STOXX 600 gaining 0.1%.

Eurozone consumer confidence weakened in September to -16.5 as ECB chief economist Philip Lane warned about persistent energy inflation risks.

In Asia, equities logged a sixth consecutive session of gains, with the Hang Seng up 0.18% and the Shanghai Composite up 0.06%.

This was boosted by surging semiconductor shares like Samsung and SK Hynix, while attention now turns to Chinese President Xi Jinping’s upcoming visit to the US.

In the commodities market, Brent crude oil fell below $100 per barrel after Saudi Arabia restarted its East-West pipeline, easing oil supply concerns.

Meanwhile, gold traded slightly lower at $4,343.74 per ounce. PGMs also saw declines as platinum dropped 1.07% and palladium dropped 0.83%.

On Wednesday morning, the rand was trading at R16.19 to the US dollar, R18.50 to the euro, and R21.56 to the British pound.

Important finance and investing news

$5.5 billion trades under scrutiny: Nearly one million trades have been made in a single market on the prediction market platform Kalshi since August, all in nearly identical amounts of around $5,500. This has drawn suspicion from federal regulators and traders, while Kalshi itself has said the rapid trades represent normal market activity. [Wall Street Journal]

Naspers makes R89 billion in one day: Naspers shares shot up yesterday after its largest investment, Tencent, demonstrated its new AI platform. Together with its JSE-listed spin-off Prosus, the two companies added R89 billion to their combined market caps. [BusinessDay]

US wants $30 billion for airports: The United States Department of Transportation is set to ask Congress for another $30 billion to upgrade air traffic control towers and software, and to improve airport facilities. Last year, Congress approved $12.5 billion over five years for aviation upgrades. [Reuters]

Science park on sale for £800 million: Milton Park, near Oxford in the United Kingdom, has been put on sale for £800 million in what is one of the biggest deals in the science park sector in recent years. Almost 40% of the park’s occupants are in the healthcare and life science sector, with 13.1% in tech and 13.5% in the energy industry. [Bloomberg]

No more loadshedding in South Africa: Outgoing Eskom Board Chairperson Mteto Nyati has said he does not see South Africa ever returning to loadshedding. Nyati, who leaves the company at the end of October, said he was confident in Eskom’s talent to continue taking the company forward. Its executives have been given a target of R112 billion in cost savings over the next five years. [EWN]