Daily Archives: January 13, 2011

Brazil's BovespaLatin American markets were mixed in Thursday’s choppy trading, with the Brazil’s Bovespa falling for the first time this week while Mexico’s IPC moved higher.  The Mexican peso weakened against the dollar after hitting a more than two-year high yesterday.

Brazilian retailers and homebuilders fell as investors bet on higher interest rates and US jobless claims came in higher than expected. Mexico’s peso slipped to 12.13 to the dollar, while the IPC index added 0.28 per cent today. Continue reading »

Mexican peso against US dollarTake a look around the emerging-market asset class these days and you will quickly realise that Mexico sticks out for being one of the few countries to have shunned any participation in the so-called “currency wars” between central banks and speculators.

Indeed, while the likes of Brazil, Chile, Turkey and Thailand have all opted for some sort of action to curb the rapid appreciation of their currencies as a result of huge capital flows into emerging markets, Mexico has instead opted to defend its belief in free and open markets by doing practically nothing. Continue reading »

Russia is back on track to become Europe’s number one car market as ordinary people leave the cares of the recession behind and take to the country’s bumpy roads.

After two years in the doldrums, sales of new cars in Russia surged by 30 per cent in 2010 and are expected to return to pre crisis-levels by next year, according to the Association of European Businesses, a Moscow-based lobby group. Continue reading »

Central and eastern European stocks were mixed on Thursday, as disappointing jobs data from the US were offset by increased optimism about the European sovereign debt crisis following successful bond issuances by Italy and Spain.

CEE currencies had a better day, with most rising sharply against the dollar. The Hungarian forint and Polish zloty led gains.

Continue reading »

By TJ Park and Paul Francis-Grey of mergermarket

Even Mongolia has got crowded for mobile phone companies.

Thursday’s announcement that South Korea’s SK Telecom, has sold its 29.3 per cent stake in a Mongolian mobile carrier because of a “saturated” market, proves the point.

South Korea’s most popular mobile carrier by subscribed user accounts has sold all of its stake in Skytel for 28.3bn (US$ 25.4m). Continue reading »

Many people assume that if the Brics had a fifth member, it would be South Africa. Even the Brics themselves seem to think so: last month they agreed to invite the country to one of their summits in China this year.

According to Spanish bank BBVA, however, Egypt would be a far better candidate for Bric status. Egypt is expected not only to grow faster than South Africa over the next 10 years, but to overtake it as Africa’s largest economy as soon as 2013. Continue reading »

Amid cartwheeling acrobats, fraying tempers and tsunamis of hard cash, Nigeria’s ruling party is choosing its presidential candidate for April’s election – and in all likelihood the next ruler of Africa’s oil giant.

It is a spectacle that any investor in the continent’s most populous – and perhaps most bewildering – nation would do well to observe. Continue reading »

Northern Vietnam is in the throes of an unusually cold snap, which has killed thousands of cattle, forced schools to close and made life difficult for flower growers ahead of the key lunar year selling period next month.

Although the north of the country typically faces moderately chilly winters (with an average low of 13 degrees Celsius), temperatures in Hanoi have fallen to as low as 7 degrees Celsius, while mountainous areas to the north of the capital have experienced sub-zero temperaturesContinue reading »

If you can’t stop it, tax it. With housing prices in Taipei on a steady rise over the past two years, concerns about a property bubble have already led the central bank to tighten mortgage lending rules in an attempt to rein in house prices.

That, however, has not stopped the luxury market from setting new records, which has led the Taipei City government to announce this week that it would be the first in Taiwan to institute a luxury property tax. Continue reading »

For a sign of how quickly touchscreens are gaining in popularity on devices ranging from smartphones and tablets to all-in-one PCs, one need look no further than the recent fortunes of Taiwan’s Wintek, one of the world’s biggest suppliers of touchscreen modules.

Wintek is embarking on an aggressive expansion after seeing revenues more than double last year, to T$64.7bn (US$2.1bn), largely because it supplies touchscreens for Apple’s iPad. It is spending US$150m to build a new plant in Vietnam, and this week said it is acquiring new land in Taiwan build a new plant that would nearly double its mid-sized touchscreen capacity, to 5.5m units per month by the end of next year. Continue reading »

When you’re one of the few people who can legitimately claim to have predicted the global financial crisis, working out what is going on in Malaysia shouldn’t be too much of a challenge.

Perhaps that’s why Nouriel Roubini, chairman of the economics consultancy RGE, is attracting widespread attention in Kuala Lumpur for a note casting doubt on the practicality of the government’s radical economic reform plans. Continue reading »

* Hariri asked to remain as caretaker PM

* S Korea hikes, tackles inflation head on

* Mexico drugs violence makes 2010 bloodiest year

* World Bank backs efforts to counter rapid inflows

* Delhi onion sellers strike against raids Continue reading »

Asian stocks and currencies saw small gains on Thursday, as commodity producers rallied and fears about the European sovereign debt crisis receded following Portugal’s successful debt auction on Wednesday.

“The Europe situation appears contained,” said Khiem Do, the Hong Kong-based head of Asian multi-assets strategy at Baring Asset Management. “I don’t think they’ll let the EU collapse. The equity rally looks sustainable as the world economy continues to grow despite monetary tightening in some emerging-market economies.” Continue reading »

Lebanon is trying hard to limit the shock of the collapse of its government.  Saad al-Hariri, the prime minister, was on Thursday asked to stay on as caretaker by president Michel Suleiman.

The government dissolved on Wednesday after 11 Hezbollah ministers resigned over a long-running investigation into the killing of Hariri’s father. According to Reuters, analysts are down-playing the possibility of armed conflict – which would pit a Syrian-backed Hezbollah against a US-backed Hariri. But in Beirut, nothing can be taken for granted.

Continue reading »

Sri Trang Agri-Industry, Thailand’s largest publicly traded rubber merchant, is looking to cash in on the recent strong recovery in global rubber prices by seeking a dual listing on the Singapore Stock Exchange.

Sri Trang has been talking about a dual listing for more than six months. Although the company put no price on the offer in the prospectus filed with the Monetary Authority of Singapore, analysts say the 280m shares being offered are likely to raise between S$280m and S$360m. The issue is being managed by JP Morgan, CIMB and Standard Chartered. Continue reading »

Global equities macromap

Number of the day

12.4% Fall in Mail.Ru shares on Monday, on the back of its Facebook stake.

beyondbrics

The emerging markets hub

About this blog Headlines email Blog guide
News and comment from more than 40 emerging economies, headed by Brazil, Russia, India and China.



'Like' our beyondbrics Facebook page, where we showcase a top story of the day
Sign up for our news headlines and markets snaphot service. We have two emails per day - London and New York headlines (sent at approx 6am and 12pm GMT).

To comment, please register for free with FT.com and read our policy on submitting comments.

There is an overall beyondbrics RSS feed, as well as feeds for all our countries, tags and authors. Learn more in our full RSS guide.

All posts are published in UK time.

Get in touch with us - your comments, advice and even complaints. Find out how to contact the team.

See the full list of FT blogs.

BB shortcuts

Regulars Series Archive
Chart of the week
Behind the numbers

Fund flows
Tracking money in and out of EM bonds
12 for 2012
Guest posts on key trends for the year ahead

Brics at 10
A decade of growth
The Diaspora Digest
EM diasporas, seen through their community media (Oct-Nov 2011)
Sick brics (Sep 2011)
Brics and mortar (Aug 2011)
Beyondbrics on the beach (Jul-Aug 2011)
China bubble? (June 2011)
Post-election Nigeria (June 2011)
Hey bric spender (Aug 2010)

Emerging markets data

Archive

« Dec Feb »January 2011
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31  

What we are writing about