EMERGING MARKETS-Latam stocks and currencies down on China data, Fed minutes
(Adds details on Brazil stocks) By Bruno Federowski SAO PAULO, Oct 13 (Reuters) - Latin American stocks and currencies fell on Thursday as weak Chinese trade data and bets on a December U.S. interest rate increase depressed the appetite for risky assets. China's September exports fell 10 percent from a year earlier, a far bigger decline than expected, while imports posted a surprise drop. Persistent concerns over economic weakness in the world's biggest commodities consumer have weighed on demand for assets in regions exporting raw materials, such as Latin America. The Chilean peso weakened 0.7 percent, tracking a decline in the price of copper, the country's main export. The Mexican peso retreated 0.6 percent. Brazil's currency and stocks fell less than regional peers after a vote in Congress reinforced expectations that President Michel Temer will be able to limit public spending and curb the country's debt load. Shares of miner Vale SA and steelmakers Usinas Siderúrgicas de Minas Gerais SA and Cia Siderúrgica Nacional SA were among the biggest decliners, tracking commodities prices lower. But losses were limited by a rise in shares of state-controlled oil company Petróleo Brasileiro SA following a bigger-than-expected drop in U.S. inventories of refined products. Concerns that a possible U.S. rate hike this year could lure capital away from emerging markets remained strong following the release of the Federal Reserve policy minutes on Wednesday, when Brazilian markets were closed for a local holiday. According to the document, several rate-setting policymakers at the Fed judged a rate hike would be warranted "relatively soon" if the U.S. economy continued to strengthen. Earlier on Thursday, the Turkish lira slid to a record low, the South African rand lost over one percent and emerging equities tumbled to three-week lows on the Chinese trade data and Fed minutes. Key Latin American stock indexes and currencies at 1615: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 891.23 -1.28 13.68 MSCI LatAm 2467.63 -0.61 35.69 Brazil Bovespa 60860.55 -0.26 40.39 Mexico IPC 47574.44 -0.71 10.70 Chile IPSA 4100.37 -0.29 11.42 Chile IGPA 20544.20 -0.27 13.18 Argentina MerVal 17146.33 -0.35 46.86 Colombia IGBC 9972.17 -0.36 16.67 Venezuela IBC 13463.18 -0.19 -7.71 Currencies daily % YTD % change change Latest Brazil real 3.1950 -0.03 23.54 Mexico peso 19.0265 -0.59 -9.44 Chile peso 671.2 -0.66 5.74 Colombia peso 2935.34 -1.08 7.97 Peru sol 3.409 -0.26 0.15 Argentina peso (interbank) 15.1400 -0.40 -14.25 Argentina peso (parallel) 15.5 0.19 -7.94 (Reporting by Bruno Federowski; Editing by Nick Zieminski and Meredith Mazzilli)
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