Vietnam Among World’s Most Overbought Stock Markets After Rally

The 18% advance in Vietnam’s VN Index this year has made it the best-performing stock gauge in Southeast Asia, and one of the most overbought in the world.

(Bloomberg) — The 18% advance in Vietnam’s VN Index this year has made it the best-performing stock gauge in Southeast Asia, and one of the most overbought in the world. 

The benchmark’s 14-day relative strength index — which tracks the velocity of a security’s price movement — climbed to nearly 80 on Friday, far above the level of 70 typically seen as overbought. That’s the measure’s highest level since a spike in January 2021 that preceded a sharp pullback.

It’s also higher than all but five of the key national indexes tracked by Bloomberg News. Sri Lanka, Botswana and Hungary are among those with higher RSIs.

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