Strategy Weekly: Peaking out?

Weekly — Apr 19

The bull market is starting to exhibit signs of fatigue. The index managed a marginal gain last week but this was driven by extremely strong performance by a handful of heavyweights. Overall market breadth was notably weak. This led to the curious result of a 0.5% week-on-week gain in the VNI (USD terms) but a 5.0% gain in the MSCI Vietnam Index and a 3.1% gain in the FTSE Vietnam 30. The latter index is the benchmark for a Taiwanese ETF that is set to be listed today (April 19).