Global Markets and Economic Update

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

Source: Morgan Stanley Capital International

MEXICAN STOCKS

The market managed to ignore the steep downdraft in U.S. stocks, as the Bolsa inched up 11.44 points to 2,457.59 on Tuesday. But a bigger rally early in the day--on news that former Education Minister Ernesto Zedillo will succeed the slain Luis Donaldo Colosio as the ruling party’s presidential candidate--faded toward the market close. * The appointment of Zedillo, 42, had been expected; investors believe that he will continue the free-market economic policies of President Carlos Salinas de Gortari. But it isn’t clear that the beaten-up Bolsa can mount much of a rally soon, simply based on Zedillo’s candidacy. The Bolsa Index Tuesday closes: 2,457.59

Source: D.A. Campbell, Times wire services

SPOTLIGHT: THAILAND

The economy grew rapidly in the past decade, largely from export-oriented industries dependent upon low-skilled, low-wage labor. But Thailand is losing its wage advantage to other developing nations in the region, and is under pressure to improve workers’ education in order to shift to more skilled industries. Sources: Bank of America; World Information Services