Johannesburg, 28 Aug 1998
JSE technology shares took a tumble on Thursday as investors sold off stocks following bad news from Russia and the bombing in Cape Town. A few JSE newcomers lost almost a third of their value, but local IT giants also suffered. When the JSE closed last night, there were no technology winners.
TCO was the biggest loser, dropping 34.91%. Ixchange (32.08%) and Bryant Technology (29.90%) also fell hard, despite the good news about their offshore activities. Brainware shares also slid severely (21.92%), regardless of the company`s excellent year-end results.
Even the strongest technology shares took a tumble. Datatec dropped 20%, PQ Holdings 11.55%, while Dimension Data was relatively stable, dropping only 6.98%.
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