EMERGING MARKETS-Latam markets strengthen on China outlook

miércoles 9 de septiembre de 2015 11:28 GYT
 

SAO PAULO, Sept 9 (Reuters) - Latin American currencies and
stocks strengthened on Wednesday after Chinese officials said
they would enact policy measures to support economic growth in
what is an important market for local raw materials exports.
    Brazilian assets posted the biggest gains in the region,
helping the MSCI Latin American stock index 
advance for the second straight session.
    A statement from China's Ministry of Finance on Tuesday said
the nation would accelerate major construction projects, bring
in private financing, standardize the management of local
government debt and reform taxes. 
    Weakening economic growth in China, Brazil's top trade
partner, has hammered the price of Latin American commodities
such as iron ore, soybeans and copper.
    That has weighed on the region's currencies, such as
Brazil's real , which has lost 30 percent of its
value against the dollar in the year to date.
    The real advanced for the third straight day on Wednesday,
gaining nearly 1 percent against the dollar.
    Other currencies in the region saw smaller gains, with the
Chilean and Mexican pesos  both up about 0.35
percent.
    Stock markets were broadly higher.
    Brazil's Bovespa stock index advanced for the second
day led by shares of banks and financial companies. 
    Shares in BM&FBovespa SA jumped after Brazil's
sole listed exchange sold part of its stake in partner bourse
CME Group Inc to bolster cash.
    Preferred shares in mining firm Vale SA, which
counts China as its biggest customer, advanced 1 percent. 

    
    Key Latin American stock indexes and currencies at 1519 GMT:
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets        811.66     2.67   -17.33
                                               
 MSCI LatAm                  2013.86     1.03   -26.92
                                               
 Brazil Bovespa           47223.9466     0.99    -5.57
                                   9           
 Mexico IPC                 43240.05     0.36     0.22
                                               
 Chile IPSA                  3754.48    -0.02    -2.51
                                               
 Chile IGPA                 18350.59    -0.03    -2.75
                                               
 Argentina MerVal           11236.97     0.53    30.98
                                               
 Colombia IGBC               9602.42     0.21   -17.47
                                               
 Venezuela IBC              14779.02     0.05   283.00
                                               
                                                      
 Currencies                           daily %    YTD %
                                       change   change
                              Latest           
 Brazil real                  3.7809     0.95   -29.71
                                               
 Mexico peso                  16.764     0.33   -12.05
                                               
 Chile peso                    687.7     0.41   -11.82
                                               
 Colombia peso                  3112     0.02   -23.26
 Peru sol                     3.2131     0.43    -7.29
                                               
 Argentina peso               9.3400    -0.05    -8.46
 (interbank)                                   
                                               
 Argentina peso                15.53    -0.13    -9.85
 (parallel)                                    
                                               
 

 (Reporting by Asher Levine; Editing by Meredith Mazzilli)