March 14, 2019 / 3:31 PM / 4 months ago

EMERGING MARKETS-LatAm stocks fall on U.S.-China trade uncertainty; FX slumps

    March 14 (Reuters) - Most Latin American stocks fell on
Thursday on new uncertainty over U.S.-China trade talks, while
currencies in the region fell against a firm dollar.
    A meeting between President Donald Trump and China's Xi
Jinping will most likely be pushed to April at the earliest,
Bloomberg reported, curbing appetite for riskier assets.

    MSCI's index of Latin American stocks fell
0.8 percent with stocks in Mexico and Brazil leading declines. 
    "Lofty expectations for successful talks could get dialed
back," said Morgan Stanley analysts in a note. 
    Sao Paulo's Bovespa eased off record highs with
banking stocks leading decliners as investors continued to look
out for any new developments in negotiations over Brazilian
pension reform.
    Brazilian Economy Minister Paulo Guedes said Wednesday that
if the pension draft was diluted from its original form it will
not be able to deliver the savings outlined in the government's
plan. 
    Planemaker Embraer was the biggest drag on the
Bovespa after reporting a loss of $18.1 million in the fourth
quarter of 2018.
    Mexican stocks fell 0.6 percent, led by declines in
Walmex. The investor mood was soured after Mexico's
energy secretary said state-run oil firm Pemex           could
delay to next year a call to energy companies to form joint
ventures planned for October.
    Most currencies in the region fell against a firmer dollar
with Brazil's real leading losses, while Argentina's peso
 was among the few gainers.  
    Chile's peso fell 0.2 percent, tracking a dip in
copper prices, the country's main export, while stocks on the
IPSA index made nominal moves.      
    Colombia's peso firmed marginally, moving higher
alongside oil prices while the local stock index was the
lone gainer in the region. 
  
Key Latin American stock indexes and currencies at 1510 GMT

 Stock indexes                        daily %
                             Latest    change
 MSCI Emerging Markets       1046.76    -0.35
                                      
 MSCI LatAm                  2805.01    -0.81
                                      
 Brazil Bovespa             98390.00    -0.52
                                      
 Mexico IPC                 41705.02    -0.54
                                      
 Chile IPSA                  5303.20    -0.19
                                      
 Argentina MerVal           33956.14     -0.2
                                      
 Colombia IGBC              12812.61      0.1
                                      
                                             
 Currencies                           daily %
                                       change
                              Latest  
 Brazil real                  3.8355    -0.60
                                      
 Mexico peso                 19.3278    -0.26
                                      
 Chile peso                    670.5    -0.27
                                      
 Colombia peso               3138.95     0.16
 Peru sol                      3.293     0.03
                                      
 Argentina peso              40.8500     1.10
 (interbank)                          
                                      
 

 (Reporting by Agamoni Ghosh in Bengaluru; Editing by Jeffrey
Benkoe)
  
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