World’s Best Equity Rally Draws Foreign Investors Into Brazil

A stellar rally in Brazil sent the local equity benchmark to a record this week, turning it into the world’s best-performing stock market as investors rotate billions away from US assets and into the developing world.

The nation’s benchmark Ibovespa stock index gained 9.7% in dollar terms this week, the best performance among world peers. Foreigners have been plowing cash into Brazilian equities since the start of the year, propping up the index to successive all-time highs.