The Santiago Stock Exchange opened with a rise of more than 9 percent after the presidential elections in Chile

File image of a La Bolsa sign next to the stock exchange building in downtown Santiago, Chile.  March 16, 2021. REUTERS / Iván Alvarado
File image of a La Bolsa sign next to the stock exchange building in downtown Santiago, Chile. March 16, 2021. REUTERS / Iván Alvarado

The Santiago Stock Exchange opened this Monday with a strong increase of 9.25% after the electoral result of the first round of the presidential elections in Chile, in which the ultra-rightist prevailed Jose Antonio Kast to dispute a ballotage in front of the leftist Gabriel Boric.

The Ipsa, the main indicator of the Chilean market, which brings together the most traded shares, opened with an increase of 9.25%.

For its part, The Chilean peso also opened with a strong rise of 3.5%, to be traded at 800 units per dollar at the start of operations.

The main bearish factor of the dollar peso parity today is the results of yesterday’s elections. Chile voted for the extremes in the first round of the elections”Said the consulting firm Mercados G. in a note early Monday.

55-year-old lawyer and Catholic, Kast is a staunch defender of the free market and of a smaller and more efficient state, while proclaiming a strong hand against crime and “terrorism.” But his vindication of the military dictatorship, which left thousands of people tortured, exiled and 3,000 dead and missing, has alienated him from the more moderate center-right that seeks to shed that past.

“Today we have played a majority of Chileans who want a calm and safe country,” Kast said Sunday night before dozens of supporters who celebrated his triumph. “The time has come for us to recover Chile.”

The right-wing candidate Jose Antonio Kast (REUTERS / Ivan Alvarado)
The right-wing candidate Jose Antonio Kast (REUTERS / Ivan Alvarado)

While, Boric -the former student leader who has promised to change the neoliberal model that has characterized Chile in recent decades- has been viewed with suspicion by the markets with his proposals to change the pension system, raise taxes and increase wages.

A first post-election poll, from the pollster Cadem, yielded a technical tie between both candidates, with 39%.

“We will look for a country that pulls up with unity and without polarization”Deputy Giorgio Jackson, one of Boric’s closest advisers, told Cooperativa radio on Monday.

In third place of the electoral results, tied, are the liberal economist Franco Parisi with 12.80% of the votes and the candidate of the pro-government center-right Sebastian Sichel, with 12.79%.

To those voters, added to those of the center-left candidate, Yasna Provoste, representative of the old Concertación that ruled for two decades after the fall of the Augusto Pinochet dictatorship, wrote down the first messages on Sunday night after the results were known.

Keep reading:

Chile, on the way to the second round: in which regions José Antonio Kast and Gabriel Boric prevailed
Participation in elections in Chile did not reach 50% of the electoral roll

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Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Phone : +1 281-333-2229

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