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Filed under: China, Brazil, Stocks to Buy

• Gafisa SA, Brazil's second-largest real estate developer, said second-quarter profit rose 67 percent as higher wages and job growth increased demand for housing.
• Net income grew to 58.8 million reais ($36.2 million), or 45 centavos a share, from adjusted net income of 35.3 million reais, or 27 centavos, a year earlier, the company said in an e-mailed statement. The earnings were higher than the aver

I thought I would put up a list of some interesting South America stocks for a pair of reasons. First as you can see from the chart above of the ETF for the Latin America 40 (ILF) that the region’s stocks have pulled back significantly over the recent few months. Second, I have a strong interest in the region and keep my eye out for interesting stocks. I hope to point out a few here you have not heard of or considered.

Investors throwing the baby out with the bathwater...  GFA will move in a northeasterly direction as homeownership grows along with a growing middle class in Brazil.

GS wrote a note on Brazil's central bank rates dropping in 2009 making homeownership more favorable, and Brazil's growing economy allows for strength needed to drive up home sales.  GS recently switched from sell to neutral, which means it's time to buy before everyone else does ( http://news.moneycentral.msn.com/category/topicarticle.aspx?f... ).

With Brazilians becoming more comfortable with cred