ZSE now overvalued?

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DEMAND for equities pushed the Zimbabwe Stock Exchange (ZSE) to a record market capitalisation of $630 billion (US$7,5 billion) this month, raising concerns of overvaluation.
After a slowdown in February, which saw monthly gains shrinking from 19 percent to 3,5 percent last month, the exchange’s benchmark All Share Index gained 20 percent during the first half of May to breach the 5 000 point-mark for the first time since its introduction in 2018.