Foreign investors pour R$2.3bn into B3 ahead of Brazil election first round

Foreign investors injected R$2.3 billion into B3's secondary market on October 2, the last trading day before the first round of elections, as the Ibovespa rose 2.63%. This brings the monthly foreign surplus to R$2.6 billion and year-to-date to R$29.9 billion, while institutional investors withdrew R$291.8 million, extending their year-to-date deficit to R$35.6 billion. The divergence suggests foreign positioning is bullish ahead of the vote, but the outcome remains uncertain.