Global Markets and Economic Update : MEXICAN STOCKS
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* The market fell Wednesday for the fifth straight session, as profit takers were encouraged by higher interest rates and by new concerns about violence in the southern state of Chiapas. The Bolsa index lost 30.11 points to 2,702.73.
* Traders said the selloff started after the Bank of Mexico reported a half-point rise in 28-day treasury bill yields, to 14%. Sellers were further encouraged after Zapatista rebel leader Subcomandante Marcos in Chiapas called for the resignation of Gov.-elect Eduardo Robledo Rincon, who is a member of the ruling party. Investors fear the rebels will resume terrorist activities against the government.
SPOTLIGHT: TANZANIA
Tanzania, the birthplace of African socialism in the 1960s under former President Julius Nyerere, instituted sweeping economic reforms in the mid-1980s to help it overcome financial ruin. The country is still mired in poverty, but the government is pressing policies aimed at competing in the international market.
Sources: Times wire services; Bank of America; World Information Services
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