Investors on their way back

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 $136-million in the first quarter, the data showed.