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4 年前
EMERGING MARKETS-Brazil stocks buoyed by strong China data
2013年11月4日 / 晚上7点53分 / 4 年前

EMERGING MARKETS-Brazil stocks buoyed by strong China data

MEXICO CITY, Nov 4 (Reuters) - Strong economic data out of China boosted Brazilian stocks on Monday, led by gains in miner Vale and oil producer Petrobras, while investors in Mexico showed caution ahead of key data in the United States.

Brazil's Bovespa stock index rose 0.78 percent, after data on both China's services sector and its factory sector showed signs of strength.

China is Brazil's biggest trading partner and a key purchaser of Latin American commodities exports such as iron-ore, soy, copper and petroleum.

Activity in China's services sector expanded at the fastest pace in 13 months in October, according to data on Sunday. That followed data on Friday showing the manufacturing sector strengthened in October, with the country's official Purchasing Managers' Index reaching an 18-month high.

The news helped push shares of Vale up 2.3 percent and state-run oil company Petroleo Brasileiro SA Petrobras up 1.81 percent.

In contrast, Mexico's IPC index fell 0.21 percent, as investors awaited the release of the U.S. monthly labor market report on Friday, a key for gauging the health of the U.S. economy and the likelihood of when the Federal Reserve will start to taper stimulus.

The Fed has been injecting $85 billion a month into the U.S. economy, and some of that money often finds its way to emerging markets as investors seek higher yields.

On Monday, Fed officials underscored Fed Chairman Ben Bernanke's promise that the U.S. central bank will not reduce stimulus according to a set timeline, but rather in response to economic developments.

Shares of bottler and retailer Femsa fell 2.09 percent, contributing the most to the Mexican index's losses.

Chile's bourse rose 0.11 percent as shares of retailer Cencosud rose 3.86 percent.

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