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

To: djane who wrote (7132)	8/26/1998 2:41:00 PM
From: MGV	Respond to of 22640

More of the same: sentiment poor, liquidity driven sells, big time fear. Repeat after me: Russia is not Brazil .... Brazil is not Russia In BRAZIL, stocks tumbled for the sixth straight session on Wednesday as investors dumped emerging market stocks amid heightened concern that Brazil could be more vulnerable a speculative attack or capital flight, players said. ''The knee-jerk reaction goes straight from Russia to Brazil,'' Santander's Goodman said. ''The root of Russia's problems stems from its fiscal account, like Brazil.'' ''Of course there are substantial differences between the countries that are being ignored,'' he added. biz.yahoo.com Latam equities extend losses amid Russia debt fear By Shasta Darlington SAO PAULO, Aug 26 Reuters) - Latin American stocks tumbled in midday trade on Wednesday, extending deep losses amid concern that Russia's debt restructuring could fuel capital flight from emerging markets, traders said. ''The contagion is both psychological as well as just dumping assets to cover other positions,'' said Lawrence Goodman, chief economist at Banco Santander in New York. Late on Tuesday, Russia announced the details of a plan to restructure $40 billion in short-term domestic debt into longer-term paper. Concern over a looming financial crisis shook markets around the globe on Wednesday, traders said. Traders said investors could pull even more money out of emerging market equity and debt markets to cover their losses. ''A lot of investors are going to have to raise cash quickly to cover that,'' said Martin Arranz, a fund manager at Brazil's Banco Patente. Declines on Wall Street and in European stock markets also fueled the rout in Latin America, traders said.