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Argentina stock market report: the Merval surged 2.49% to 3,166,406.61 on Friday May 29, a fourth consecutive up session closed near the intraday high of 3,175,353 and put the index within 4.1% of the January 28 all-time high of 3,296,502. The week added more than 11%. The regional decoupling is now structural: Brazil bled a fourth day, Colombia faded into Sunday’s vote, Mexico tested its 50-day. The caveat: the RSI fast has crossed 70, which historically warns of a pause.
Argentina is now running on its own narrative. Reserves at the Banco Central are near $48 billion, the highest since 2019; country risk is pressing toward the 500-basis-point line for private-market debt access; YPF’s ADR is holding above $50 even as Brent has fallen toward 92; the BCRA peso-band system has been operating with a near-zero gap. The Merval is trading with momentum rather than waiting for permission.
The peer comparison sharpens. Brazil fell 0.73% on a fourth down day despite a GDP beat and the Iran ceasefire, with 14.50% Selic pricing higher-for-longer. Colombia closed at the day’s low after an intraday breakout failed. Mexico drifted as Wednesday’s reversal still digested. Argentina ran 2.49%, the relative performance of a market the cross-border bid is rediscovering rather than chasing.
