FOREIGN STOCK MARKETS
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MEXICAN STOCKS
Mexican stocks rose Wednesday for the first time in three days as borrowing costs fell for the second week and investors bet that earnings will rise at both Telefonos de Mexico and Grupo Televisa.
Retail sales are expected to decline throughout 1995 as the economy struggles through a recession. Ministry of Finance officials said the nation’s gross domestic product will decline between 4% and 5% in the second quarter and about 2% this year.
The InterAmerican Development Bank said it has approved a $1.25-billion package of loans to support a program to strengthen Mexico’s banking sector and credit for social programs to help the poor.
Sources: Bloomberg Business News, Dow Jones
SPOTLIGHT: THAILAND
Although Thailand traditionally has had an agrarian economy, its manufacturing sector is growing. Textiles, clothing and electronic goods are its largest exports. To keep pace with its changing economy, Thailand plans to invest in public education and to spend $60 billion on transportation and telecommunications projects.
Sources: Bank of America, World Information Services
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