Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.550

+2.8%

Jan 9 9:30 AM EST

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To: md1derful who wrote (7700)	9/10/1998 11:00:00 AM
From: Steve Fancy	of 22640

Brazil Bovespa drops 10.01 pct, trade is halted Reuters, Thursday, September 10, 1998 at 10:36 SAO PAULO, Sept 10 (Reuters) - Brazil's Bovespa index (INDEX:$BVSP.X) was down 10.01 percent at 1107 local/1407 GMT Thursday, triggering a circuit-breaker that halted trading for 30 minutes. The Bovespa tumbled to 5,089 amid a panic over capital flight sparked by a series of big dollar outflows. Investors are dumping stocks after another $1.142 billion fled the country on Wednesday, bringing losses through the commercial and floating foreign exchange markets so far this month to $8.768 billion. Sharp declines of more than 3 percent on Wall Street also contributed to the Bovespa's drop. Trading was to resume at 1137 local/1437 GMT. If the index falls another 5 percent, the circuit-breaker will be triggered again, halting trade for another hour. Copyright 1998, Reuters News Service

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