Tight Presidential Race Shakes Peru's Markets

As Peru's presidential race tightens, leftist candidate Roberto Sanchez closes in on conservative Keiko Fujimori. The stakes have affected Peru's market, with major mining stocks falling. Although Fujimori had an initial lead, Sanchez's strong performance in rural regions could shift the final outcome.

In Peru's closely contested presidential race, leftist congressman Roberto Sanchez has narrowed the gap against conservative frontrunner Keiko Fujimori, with the electoral count continuing into its second day.

With 93% of votes counted, Fujimori holds a slim lead at 50.07%, while Sanchez stands at 49.93%, driven by strong showings in Peru's rural regions.

The electoral uncertainty has rattled Peruvian markets, leading to declines in U.S.-listed Peruvian shares such as Buenaventura and Credicorp. Sanchez's promises of economic reforms, including changes to mining concessions, are pivotal in this election.