Despite ongoing violence related to the
drug cartel battle
raging across the border, Mexico's stock market and exchange traded
) have been doing quite well this year, thanks in part to a booming
International tourism to
increased to 7.1 million in the first eight months of the year, or
up 19.2% year-over-year. The largest gain was in July, which saw
27.5% growth from the previous July,
rep0rts Hugo Martin for
The Los Angeles Times
. Tourists were flocking to beach towns, which have largely been
untouched by violence.
The Mexican stock market IPC Index is up 6.7% year-to-date,
writes Aaron Smith For CNN Money
. John Lomax, emerging markets equity analyst for HSBC in London,
to an "overweight" rating, stating that "we saw very strong growth
in Mexico for the first half of the year." Alonso Cervera, emerging
markets analyst for Credit Suisse in New York, has raised his GDP
projection to 4.7% for 2010.
The weekly beef sales data from the U.S. to Mexico for August is
showing improvements, even though Mexico's slower economy and weak
peso have made U.S. beef a tougher sale this year,
according to High Plains Journal
Latin America ETFs: It's Not All About Brazil.
For more information on Mexico, visit our
iShares MSCI Mexico (NYSEArca: EWW)
is up 10.2% in the last three months; the fund contains exposure
to a variety of Mexico's industries, but the heaviest weighting
is in telecom, which has 26.8% of the fund. Other sectors include
retail (9.7%), commercial banks (7.7%) and non-ferrous metals
SPDR S&P Emerging Latin America (NYSEArca:
holds a 21.5% weighting in Mexico and 64.3% in Brazil
Max Chen contributed to this article.