Latin American equity markets showed a very high correlation with Nasdaq through the first quarter o...
Latin American equity markets showed a very high correlation with Nasdaq through the first quarter of 2000. This despite underlying economies which are anything but new world. It might appear that there would be little here for the dot.com frenzy to feed off. The markets are dominated by natural resources, banks, cement, brewers and utilities. However, the missing industry from that list is telecommunications, seen as the perfect vehicle to access rising IT spending and growing internet use in the region. As technology stocks rose worldwide, Latin America enjoyed a strong start to the ye...
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