The Zimbabwe Stock Exchange has lost ZWL $42.5 Billion since trading resumed earlier this month after the government suspended the national bourse for 5 weeks under the banner that they wanted to investigate forex exchange rates illegal dealings, Equity Axis reports.
According to the publication, international buyers are cashing out of ZSE as evidenced by records from the market:
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A cumulative ZWL42.5billion has been lost since the market resumption early last week as stocks appear less and less a safe haven in the face of state interference. Over ZWL200million has been withdrawn by foreign investors in just 8 sessions, while about ZWL64.5million came in as foreign inflows.
Data shows that foreign selloffs have been dominant and over 50% of disposals post the suspension has been driven by foreigners who have been able to move their portfolio divestments in the latest trading incidence in the interbank.
The government, economists and brokers are yet to comment on the worrisome statistics coming from the ZSE.
More: Equity Axis