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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (21018)	6/5/2000 1:27:00 PM
From: wl9839	Read Replies (1) \| Respond to of 22640

Foreigners Shun Brazilian Stocks; Highest Outflow in 17 Months New York, June 5 (Bloomberg) -- International appetite for Brazilian stocks slumped in May as foreign investment outflows in the country's largest stock exchange rose its highest level in 17 months. Monthly outflows from the Sao Paulo Stock Exchange rose to 897.5 million reais ($498.6 million), its highest level since December 1998, exchange officials said. Foreigners sold 3.510 billion reais more in shares then they bought, according to the Bovespa. Investors bought 2.61 billion reais in shares during the same period. Outflows from Brazilian stocks rose about 85 percent during the first five months of the year, to 1.932 billion reais, compared to 1999. In April, five mutual funds dedicated to Latin America shut down, as investors soured on the region's shrinking stock markets. -------------------------------------------------------------------------------- ¸ Copyright 2000, Bloomberg L.P. All Rights Reserved.