LIMA, Aug 17 (Reuters) - Lima's select stock index fell by 4.58 percent on Monday on fears that investment research firm MSCI will downgrade Peru to the riskier "frontier market" status from its current "emerging" market catergory.
The select index, made up of Peru's most liquid stocks, closed at 14,774.57 points, building on its 5.2 percent slide Friday.
MSCI announced late Thursday that it was considering reclassifying Peru as a "frontier market" because only a few of its stocks meet the emerging market requirements.
Peru's general stock exchange weakened 1.57 percent to finish at 10,737.68 points Monday. Its 5.25 percent drop on Friday was its steepest slide in more than four years. (Reporting By Ursula Scollo; Editing by Peter Galloway)