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…