Brazil Stock ETF Tumbles in Tokyo on Rousseff’s Victory

October 27, 2014 12:34 AM

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An exchange-traded fund investing in Brazilian equities plunged the most in three years in Tokyo after President Dilma Rousseff won re-election, damping speculation for a change in policies that have wiped out $553 billion of stock market value and left the economy in recession.

The NEXT FUNDS Ibovespa Linked ETF (1325) dropped 6.3 percent at 10:06 a.m. in Tokyo, heading for the biggest drop since September 2011. Brazil’s benchmark equity gauge, which has rallied 16 percent from this year’s low in March amid bets that Rousseff would be ousted by Senator Aecio Neves, may tum...

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