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

To: md1derful who wrote (7067)	8/24/1998 10:54:00 AM
From: DMaA	Respond to of 22640

Ah, Doc, Aren't there some breasts that need to be examined?

To: md1derful who wrote (7067)	8/24/1998 1:02:00 PM
From: MGV	Respond to of 22640

Monday August 24, 12:19 pm Eastern Time Brazilian shrs slump 3.12 pct amid Russia concerns biz.yahoo.com ''Any rises are just going to be seen as opportunities for sellers to sell,'' said Thomas Trebat, managing director of emerging markets research at Citicorp Securities in New York. ''Investors are scanning for countries with pegged currencies and large current account deficits and Brazil pops up on their radar screen,'' Trebat said.

To: md1derful who wrote (7067)	8/24/1998 1:06:00 PM
From: MGV	Respond to of 22640

Rock-bottom prices failed to attract the interest of investors for more than a few hours as Brazil's key Bovespa index led declines in Latin American bourses including Mexico, Argentina, and Chile. Venezuela seesawed in early trading. In BRAZIL, concern over a possible speculative attack on the real in the wake of currency woes in Russia and Venezuela sent the market tumbling even further on Monday. Sao Paulo's key Bovespa index (^BVSP - news) slumped 2.84 percent to 7,544 points in light midday trading. The fall comes after the Bovespa closed at its lowest point since January 29 on Friday amid huge net outflows of $2.432 billion from Brazil's forex market. Despite the recent beatings in stock markets, Brazil's currency is seen withstanding much of the blow with the help of the country's considerable reserves that topped $70 billion and continuing direct foreign investment, economists said. ''Latin America is an innocent bystander in the rush to the exit by investors in emerging markets,'' said Thomas Trebat, managing director of emerging markets research at Citicorp Securities in New York. ''I don't see any developments in the next three months that could change the overwhelmingly negative sentiment in respect to all emerging markets,'' he said. biz.yahoo.com

To: md1derful who wrote (7067)	8/24/1998 1:09:00 PM
From: MGV	Respond to of 22640

"People are too afraid to buy." ''If nothing is solved over the weekend on either Russia's banking crisis or in Venezuela, I don't see how the market is going to get better this week,'' a Banco Santander trader said. (Note - quote made on 8/21/98) Despite rock-bottom prices, valuations are increasingly irrelevant in determining fair equity value, analysts said, as the region succumbs to generalized emerging markets panic and fundamentals are increasingly ignored. WEEKAHEAD-For LatAm stocks, worst is yet to come biz.yahoo.com