Keiko Fujimori’s Peru presidential election can affect the stock market, but the direction depends on who is seen as more market-friendly and how close the race is. Recent reporting shows Peruvian stocks, the sol, and U.S.-listed Peruvian shares have moved sharply as the contest tightened, with markets generally rallying when Fujimori looked stronger and selling off when a leftist rival gained ground.

Why markets react

Investors usually treat Fujimori as the more pro-business option, so her momentum can support Peruvian equities, mining shares, and the currency. When the race shifts toward a left-leaning candidate, markets have sold off on fears of changes to mining policy, regulation, and broader economic reforms.

What has happened recently

On June 8-9, 2026, Reuters reported that as the race narrowed and leadership changed hands, Peru’s main stock index and the sol moved sharply, while names like Buenaventura, Intercorp Financial Services, and the iShares MSCI Peru ETF also swung noticeably. Earlier coverage also linked market drops to uncertainty around the runoff and investor concern over possible policy shifts.

Practical takeaway

For the stock market, the election matters less as a headline and more as a signal about policy risk. If Fujimori appears likely to win, markets may view that as relatively supportive; if uncertainty rises or her opponent gains, volatility can increase quickly.

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ScenarioLikely market reaction
Fujimori strengthensMore supportive for stocks, mining names, and the sol
Leftist rival gainsMore caution, possible selloff, weaker currency
Very tight countVolatility and fast swings in both directions
TL;DR: yes, Fujimori’s election can move Peru’s stock market, mainly through investor confidence about business and mining policy, and the closer the race, the bigger the swings.