International Business : Global Markets and Economic Update
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MEXICAN STOCKS
* The Bolsa index steadied Wednesday, easing by a fraction of a point, even though the peso hit its lowest level of the year against the dollar. Analysts said the Mexican market basically tracked the U.S. market, which also steadied after three days of losses.
* The peso closed at 3.38 to the dollar compared to 3.37 on Tuesday. At the start of the year, a dollar bought 3.11 pesos. The currency’s ongoing weakness reflects concerns about the August presidential election and rising terrorist attacks against the government. As foreign and domestic investors alike trim Mexican security holdings, the peso could fall further.
Source: Times wire services
SPOTLIGHT: MYANMAR
As colonial Burma, it was Southeast Asia’s richest nation, but the economy has suffered from years of a closed socialist government. The new military government in recent years has opened the country and implemented reforms to improve the dismal economy. Per-capita income is about $200 a year.
Sources: Bank of America; World Information Services
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