But it was a very bad period for hotel and motel operators, engineering and construction stocks and life insurance companies.
Players from the home team, the Lima Explosion, were still recovering from long shifts at their day jobs: working construction, stocking shelves, teaching high school.
But the biggest surprise of the last six months has been that construction stocks have been right behind the trucks, due to strength in construction spending.
Companies benefitting from Trump's plans to increase infrastructure spending were also in demand, including construction stocks and equipment makers such as Caterpillar.
Hopes for softening treatment by the government and the banks have bolstered construction stocks, which have climbed 13.3percentt in a month.
Worries spread wider into construction stocks such as Ferrovial, Acciona, ACS and Sacyr Vallehermoso, and banks such as Santander and BBVA, knocking the Ibex stockmarket index off by 1.7% in the week up to April 25th.
Shares in Lowe's, the home-improvement chain, have fallen with construction stocks and now trade at about 15 times his estimate for 2005 earnings, compared with their usual range of 30 to 40.
When interest rates reversed course, construction stocks, housing stocks, and mortgage bank stocks predictably declined.
Cement, housing and construction stocks have been depressed by high interest rates and the collapse of real estate speculation.
In the past year, construction stocks jumped 42%, compared with an 11% overall rise in Taiwan's main index.
