Markets in Chile take respite;Santiago bag earns 2.45% and Chilean weight rises 0.85%
Chilean markets showed a little more calm on Tuesday morning after the strong falls they experienced on the eve after the overwhelming triumph of the leftist Gabriel Boric in the presidential election of Sunday.
In a session still agitated, at 10:20 local time the Chilean weight rose 0.85%, until 867.10/867.40 units per dollar, while the referential index of the Santiago Stock Exchange earned a 2.45% to locate their level at 4,188.42 points.
On Monday, the currency closed in a historical minimum while the stock market sank more than 7% amid a lot of volatility.
Boric, who has promised deep reforms to the neoliberal economic system that has governed in the country, was imposed with a 55.87% of the votes to the ultraconservator José Antonio Kast in the Sunday elections.
However, on Monday the elected president stressed that the adjustments will be made "step by step" with fiscal responsibility and retaining an "orderly macroeconomy".
The markets are very attentive to the appointments that Boric will make of its next cabinet in response to the moderation shown during the last stage of the campaign.
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Economía de ChileChile
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