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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: Steve Fancy who wrote (9014)10/15/1998 11:25:00 AM
From: Steve Fancy   of 22640
 
S. Paulo bourse posts more foreign capital outflow

Reuters, Thursday, October 15, 1998 at 09:46

SAO PAULO, Oct 15 (Reuters) - The Sao Paulo stock exchange
(Bovespa) said Thursday it saw a net 99.5 million reais worth
of foreign investment leave the bourse in the first 10 days of
October.
Foreign buys during the period totalled 568.8 million
reais, while foreign sales amounted to 664.3 million reais, the
exchange said in a statement.
The figures resulted in accumulated net foreign outflows of
2.072 billion reais so far this year.
Market players attributed the persistent outflows to
investors fleeing from Brazilian stocks amid worries about the
country's economic outlook.
The bourse had posted a foreign net capital outflow of
1.468 billion reais in September after posting a net outflow of
1.724 billion reais in August.
($1=1.18 reais)

Copyright 1998, Reuters News Service
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