Goldman Sachs strategists wrote in a report dated October 15 that the Brazilian market's gains after the first round of voting in the presidential election may still have room for further upward movement, depending on whether favorable fiscal policies can be implemented after the second round of voting ends on October 25. The strategist, led by Sunil Koul, pointed out that positions in some sectors are relatively light, there is still room for acceleration in foreign capital inflows, and valuations are basically consistent with their fair value.

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