Foreign Investors Pull Money from Bovespa

Foreign investors pulled a net $1.74bn out of Brazil’s Bovespa in July, according to the exchange. This is the biggest net reduction this year and coincides with global equity volatility. International investors bought $18.22bn equivalent in the month but sold $19.96bn equivalent in Brazilian stocks. The Bovespa saw average daily turnover of $2.6bn and international investors were the biggest single traders, with 35.52% of the monthly volume. In July, the Bovespa’s market cap reached $1.13trn.