{"id":92406,"date":"2025-01-06T21:42:25","date_gmt":"2025-01-07T00:42:25","guid":{"rendered":"https:\/\/murray.adv.br\/?p=92406"},"modified":"2025-01-06T21:42:27","modified_gmt":"2025-01-07T00:42:27","slug":"foreign-investors-record-largest-stock-market-outflow-since-2020","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/foreign-investors-record-largest-stock-market-outflow-since-2020\/","title":{"rendered":"Foreign investors record largest stock market outflow since 2020"},"content":{"rendered":"\n<h6 class=\"wp-block-heading has-text-align-center\"><strong><em>Institutional investors follow suit, ending the year with net withdrawals on the secondary market<\/em><\/strong><\/h6>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>01\/06\/2025<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p>The turbulence triggered by the government\u2019s unveiling of weaker-than-expected fiscal measures, anticipation of aggressive protectionist policies from Donald Trump, and rising Selic rates kept foreign investors at bay from Brazil\u2019s stock market throughout 2024.<\/p>\n\n\n\n<p>Data from B3, the Brazilian stock exchange, reveals that foreign investors pulled R$32.1 billion from the secondary market (trading of already-listed shares) last year. This marked the largest annual outflow since 2020, the first year of the pandemic, when the segment saw a R$40.1 billion deficit, according to a Valor Data analysis. The figures exclude IPOs and public offerings.<\/p>\n\n\n\n<p>Institutional investors also ended 2024 with net withdrawals, recording a R$37.5 billion deficit in the secondary market. By contrast, only individual investors finished the year with a positive balance, contributing R$30.8 billion.<\/p>\n\n\n\n<p>Michel Frankfurt, head of Scotiabank\u2019s brokerage in Brazil, casts doubt on the prospect of significant foreign inflows in the near term. \u201cWe won\u2019t see substantial flows. There might be some activity to capitalize on stock market bargains, but we lack a strong \u2018narrative\u2019 to create momentum. It\u2019ll just be a ripple,\u201d he explained.<\/p>\n\n\n\n<p>Mr. Frankfurt added that Brazil appears to have been \u201cabandoned\u201d by global investors, hindered by its failure to differentiate itself on the global stage and internal woes like worsening government accounts and disappointment over the spending cut package.<\/p>\n\n\n\n<p>HSBC analysts echoed this sentiment, expressing concern over the vicious cycle stemming from fiscal policy frustrations. Last week, they downgraded their recommendation for Brazilian equities from neutral to \u201cunderweight,\u201d citing growing pessimism about the country\u2019s outlook.<\/p>\n\n\n\n<p>\u201cBrazil fits the profile of a \u2018classic value trap,\u2019\u201d wrote analysts Alastair Pinder, Nicole Inui, and Herald van der Linde in their report.<\/p>\n\n\n\n<p>While acknowledging that Brazilian equities are currently undervalued\u2014trading at a projected 12-month price-to-earnings ratio of 6.6 times\u2014they argue that asset revaluation is \u201cunlikely\u201d until the Selic benchmark interest rate falls or fixed-income returns decrease, a shift they do not anticipate before the second half of 2025.<\/p>\n\n\n\n<p>*By\u00a0Bruno Furlani<\/p>\n\n\n\n<p>Source: Valor International<\/p>\n\n\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/valorinternational.globo.com\/\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Institutional investors follow suit, ending the year with net withdrawals on the secondary market 01\/06\/2025 The turbulence triggered by the government\u2019s unveiling of weaker-than-expected fiscal measures, anticipation of aggressive protectionist policies from Donald Trump, and rising Selic rates kept foreign investors at bay from Brazil\u2019s stock market throughout 2024. Data from B3, the Brazilian stock [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[10096,25750],"class_list":["post-92406","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-foreign-investors","tag-largest-stock-market-outflow-since-2020"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Foreign investors record largest stock market outflow since 2020 - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/foreign-investors-record-largest-stock-market-outflow-since-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign investors record largest stock market outflow since 2020 - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Institutional investors follow suit, ending the year with net withdrawals on the secondary market 01\/06\/2025 The turbulence triggered by the government\u2019s unveiling of weaker-than-expected fiscal measures, anticipation of aggressive protectionist policies from Donald Trump, and rising Selic rates kept foreign investors at bay from Brazil\u2019s stock market throughout 2024. 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