EMERGING MARKETS-Latam markets sink further on Greece, China jitters

jueves 28 de mayo de 2015 12:13 GYT

SAO PAULO, May 28 (Reuters) - Latin American currencies and
stocks extended their recent slump on Thursday as concerns over
Greece's debt crisis and a sharp tumble in Chinese shares sapped
risk appetite and fueled demand for the dollar.
    Brazil's real  posted the sharpest loss among
the region's currencies, while the MSCI Latin American stock
index fell for a third straight day.
    Greece has yet to conclude a deal that would help avert a
debt default, European officials said on Wednesday, adding to
investor concern over the economic impact should a default
    Additionally, stocks in China, one of the principal
purchasers of Latin American commodities, tumbled on Thursday,
further sparking a move toward safe-haven assets such as the
U.S. dollar.
    The dollar's recent strength has been driven by expectations
for an interest rate hike in the world's largest economy as
economic indicators there strengthen. 
    "It seems like we're seeing a global shift in the dollar due
to the normalization of U.S. monetary policy," said Luciano
Rostagno, chief strategist at Banco Mizuho in Sao Paulo. "The
market is beginning to think that it's not a temporary thing."
    The Brazilian real dropped to about 3.17 per dollar from
3.14 in the previous session. The Mexican and Colombian pesos
  both weakened about 0.6 percent.  
    In stock markets, Brazil's Bovespa index erased the
previous session's gains as shares of iron-ore mining firm Vale
SA, which counts China as its biggest customer,
dropped nearly 3 percent. 

    Key Latin American stock indexes and currencies at 1604 GMT:
 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets         1007.99     -1.09      6.56
 MSCI LatAm                    2517.52     -0.78     -6.98
 Brazil Bovespa               53559.27     -1.25      7.10
 Mexico IPC                   44599.31     -0.19      3.37
 Chile IPSA                    4022.82     -0.34      4.46
 Chile IGPA                   19568.47     -0.24      3.70
 Argentina MerVal                10944      0.17     27.57
 Colombia IGBC                10182.65     -0.33    -12.48
 Peru IGRA                 -            -            -
 Venezuela IBC                10920.61      0.67    183.01
 Currencies                              daily %     YTD %
                                          change    change
 Brazil real                    3.1761     -1.01    -16.33
 Mexico peso                   15.3862     -0.63     -4.17
 Chile peso                      617.7     -0.28     -1.83
 Colombia peso                  2549.5     -0.59     -6.33
 Peru sol                       3.1581     -0.13     -5.67
 Argentina peso                 8.9850     -0.03     -4.84
 Argentina peso                   12.6      0.95     11.11

 (Reporting by Bruno Federowski; Editing by Peter Galloway)