Weekly Wrap: Mainboard recovers to its pre-secondary outbreak level

Weekly — August 17

The VNI’s recovery continued last week with the mainboard now basically back at its prevailing level prior to the secondary outbreak in late July. All three indexes posted positive gains despite stepped-up net selling by foreign investors. However, breadth remained positive, with 227 gainers vs 121 losers on the VNI, and ADT was up 10% vs the previous week. Gold punters had a rough week, which offers some hope for domestic flows into equities (but “hope” is a terrible investment strategy).