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EMERGING MARKETS-LatAm markets seesaw after recent gains; China data, U.S. rates eyed
July 17, 2017 / 5:06 PM / 5 months ago

EMERGING MARKETS-LatAm markets seesaw after recent gains; China data, U.S. rates eyed

 (Updates prices)
    By Bruno Federowski
    SAO PAULO, July 17 (Reuters) - Latin American stocks and
currencies seesawed on Monday as investors remained wary of big
trades following sharp gains the week before.
    Still, stronger-than-expected China economic data and doubts
about the prospect of a U.S. interest rate hike this year
supported demand for emerging market assets, keeping a lid on
    The Mexican peso slipped 0.1 percent after reaching
a 14-month high on Friday in its biggest weekly gain since late
January. The Brazilian real firmed 0.1 percent.
    Emerging market assets have spiked in recent weeks as mixed
U.S. economic figures and remarks by Federal Reserve
policymakers have cast a shadow over the U.S. central bank's
plan to hike rates once more in 2017 and three times in 2018.
    A slower path of rate increases in the United States could
boost demand for risky assets, which typically lure investors
with the promise of higher yields.
    Wider emerging market stocks on Monday reached
their highest level since April 2015, also supported by a report
showing that China, the world's No. 2 economy, expanded faster
than expected in the second quarter.
    Brazilian stocks fell 0.2 percent as traders booked
profits from a five-day stretch of gains.
    Losses were limited by rallying shares of Braskem SA
, Latin America's largest petrochemical firm, which
touched an all-time high after Morgan Stanley Securities became
the latest research house to turn bullish on the stock.

    Latin American stock indexes and currencies at 1942 GMT:
 Stock indexes                                 daily %     YTD %
                                      Latest    change    change
 MSCI Emerging Markets               1,051.01    +0.38    +21.43
 MSCI LatAm                          2,716.00    +0.06    +15.96
 Brazil Bovespa                     65,138.09    -0.46     +8.15
 Mexico S&P/BVM IPC                 51,308.29    +0.29    +12.41
 Chile IPSA                          5,040.86    +0.81    +21.43
 Chile IGPA                         25,142.91    +0.75    +21.26
 Argentina MerVal                   21,305.52    -2.63    +25.94
 Colombia IGBC                      11,041.67    -0.25     +9.02
 Venezuela IBC                     130,390.47    +0.97   +311.26
 Currencies                                    daily %     YTD %
                                                change    change
 Brazil real                            3.181    +0.10     +2.16
 Mexico peso                           17.589    -0.14    +17.94
 Chile peso                           659.600    -0.36     +1.68
 Colombia peso                      3,030.000    -0.23     -0.94
 Peru sol                               3.247    +0.09     +5.14
 Argentina peso (interbank)            16.920    -0.35     -6.18
 Argentina peso (parallel)             17.670    -0.57     -4.81

 (Reporting by Bruno Federowski; Editing by Jonathan Oatis and
Sandra Maler)

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