EMERGING MARKETS-Latam currencies, stocks mixed as China seeks stable yuan
(Updates prices to market close) By Bruno Federowski SAO PAULO, Jan 12 (Reuters) - Latin American currencies and stocks on Tuesday had mixed reactions to new Chinese government actions to stabilize the yuan, whose devaluation triggered a global selloff last week. The Chinese central bank again allowed the currency to rise against the U.S. dollar, while dealers reported aggressive offshore yuan buying by state-owned banks. The Brazilian real advanced slightly in Tuesday trading while the Mexican peso weakened 0.6 percent against the dollar. The peso had made a modest recovery on Monday after hitting a fresh record low on Sunday. Stocks across the region sank, although Mexico's IPC index finished up 0.78 percent. Brazilian stocks dipped as shares of state-controlled oil company Petroleo Brasileiro SA fell more than 9 percent. Petrobras, as the company is known, trimmed its estimates of capital spending by one-quarter for the 2015-19 period, warning of further cuts if oil prices and the Brazilian real keep falling. Latin American stock indexes at 2230 GMT: Stock indexes Latest Daily YTD pct pct change change MSCI Emerging Markets 723.21 -0.02 -8.93 MSCI LatAm 1,660.17 -0.13 -9.27 Brazil Bovespa 39,513.83 -1.09 -8.85 Mexico IPC 41,022.74 0.78 -4.55 Chile IPSA 3,527.35 -0.45 -4.15 Chile IGPA 17,472.19 -0.41 -3.74 Argentina MerVal 10,656.59 -2.73 -8.72 Colombia IGBC 7,919.28 -2.5 -7.35 Venezuela IBC 14,617.5 0.13 278.82 (Editing by Jeffrrey Benkoe; Editing by Sandra Maler)
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