International Business : Global Markets and Economic Update

FOREIGN STOCK MARKETS

Stock index trends in native currencies and in U.S. dollars adjusted for currency fluctuations. The dollar-adjusted returns are what U.S. investors would realize.

Source: Morgan Stanley Capital International (Tuesday closes)

MEXICAN STOCKS

* Share prices pulled back after the stellar rally of recent weeks, as rebel factions voiced new threats against the government. The Bolsa stock index eased 20.29 points to 2,574.67 on Wednesday, even as 28-day treasury bill yields continued to slide, dropping to 15.15% from 15.8% a week ago.

* Stocks have surged on rising optimism about the ruling party’s prospects in the Aug. 21 presidential election, but recent warnings by the Zapatista rebels in southern Mexico again put some investors on edge. The rebels said they will stage strikes and protests if they suspect the government is using election fraud to benefit the ruling party candidate.

Source: Bloomberg Business News

SPOTLIGHT: SYRIA

After years of a closed socialist economy, Syria has been transformed by a 1991 investment promotion law that offered tax exemptions for a variety of private companies and eased strict controls on foreign currency and imports. As a result, hundreds of new businesses have appeared.

Sources: Bank of America; World Information Services