What is expected for what is missing from 2023?
The shares of companies that have reached their maximum historical price so far this year and the Mexican market still have growth potential, but much more moderate, since “unfortunately, economic activity has presented indicators since November that have been slowing down, it is possible that it weakens,” said Gerardo Copca, director of Meta-Analysis Analysis.
“There is confidence despite so much uncertainty; However, the strong start that the Mexican stock market has had in the first three weeks of the year is not expected to continue, no one expected the market to be reaching the levels it has reached,” said Copca.
For the rest of the year, Vera pointed out that there has to be a reversal. Not so much because of the performance of the Mexican economy, but because of the idea that the Federal Reserve (Fed) could be close to relaxing its rate hike that it has had in recent months.
Mexico is the most attractive among the emerging countries for having a large rate differential and an exchange rate that has remained strong. However, the specialist does not believe that these conditions will be maintained for the rest of the year. “To the extent that Banxico’s rate begins to detach from what the United States central bank does, we could see a strong correction in the Mexican market,” Vera warned.
On the other hand, Rodríguez expects that the good start that the stations that have reached their historical maximum price and the Mexican market have had will be maintained throughout 2023. “Despite the fact that there are local and international risk factors that could lead to certain contractions, the expectation of the Mexican stock market in general is positive”, he concluded.
Vera pointed out that there is an idea that Mexico is a bad investment because it is an emerging country, but in general it can be a very attractive country to invest in the long term, it is a country that pays and could be as attractive or even more attractive than the United States. . “It’s the last straw that international investors see that and locals don’t.”