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Investors return to SA as ETF short positions pruned

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London - If anyone had doubts about the strength of the rebound in South African stocks, the latest data on exchange-traded funds should put them to rest.

Investors have cut their short positions in the largest ETF focused on the country to the lowest level since 2010, data from Markit show. That accompanied a surge in net capital inflows into 41 ETFs buying stocks in South Africa to a five-year high of R2bn in the first quarter, the data show.

The FTSE/JSE Africa All Share Index in Johannesburg has rallied 12% from a two-year low reached in January and the country has regained its position as the largest stock market in Africa and the Middle East.

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