International Business
- Share via
MEXICAN STOCKS
* Mexican stocks rebounded to close higher following their 4.92% tumble Tuesday. “There is a belief that perhaps the market has been punished enough,” one analyst said. Despite the rebound, traders said concerns remain over the central bank’s decision to increase interest rates in a bid to control inflation.
* There were signs that investors aren’t satisfied that a $20-billion U.S. aid package will resolve Mexico’s financial crisis. Mexican interest rates rose to their highest level in almost seven years amid concern that consumer prices could spiral and the peso weaken further. Three-month treasury bill yields rose to 57%.
The Bolsa Index
Wednesday closes: 1,708.28
Sources: Dow Jones; Bloomberg Business News
SPOTLIGHT: INDONESIA
The republic, which once relied on oil as its chief asset, has worked hard to diversify its economy since oil prices began tumbling in the early 1980s. Today, agriculture and services are growing rapidly. The country still exports large volumes of raw materials and remains vulnerable to industrial slowdowns in other nations.
Sources: Bank of America, World Information Services
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
