November 21, 2018 / 1:44 PM / 5 months ago

EMERGING MARKETS-Brazil markets drop 1 percent, other Latam FX gain

    Nov 21 (Reuters) - Brazil stocks and the real opened sharply
lower on Wednesday after a holiday as a two-day rout on Wall
Street caught up with its assets, while other Latin American
currencies firmed. 
    The real weakened nearly 1 percent and was on pace to
log its biggest one-day loss in more than a week as investors
reacted to the Wall Street sell-off. 
    Reports of tech giant Apple cutting production
set-off the rout which spread globally as fears of a slowdown in
global growth gripped investors, and took down Latin American
assets over the last two sessions.
    Stocks on Sao Paulo's benchmark Bovespa index fell
more than 1 percent with losses being broad-based. The index
looked set to post its worst day in nearly two weeks.
    Brazil markets were closed on Tuesday for a local holiday. 
    Investors remain worried by signs of a global economic
slowdown and the backdrop of an unresolved trade war between the
United States and China, analysts at asset manager Infinity said
in a note.
    Washington's suggestion that China has failed to alter its
"unfair" trade practices had investors worrying about the
chances of a positive outcome from a meeting between the two
countries' leaders later this month.   
    The Mexican and Chilean pesos firmed against a
weaker dollar, in line with their other emerging market peers.
The euro gaining traction on hopes Italy may compromise on its
budget weighed on the dollar.
    Key Latin American stock indexes and currencies at 1312 GMT:
 Stock indexes                       daily %    YTD %
                            Latest    change   change
 MSCI Emerging Markets       972.99     0.04   -16.04
 MSCI LatAm                 2598.19    -1.03    -7.17
 Brazil Bovespa            86986.86    -1.04    13.85
 Mexico IPC                       -        -        -
 Chile IPSA                 5106.78     0.13     0.13
 Argentina MerVal                 -        -        -
 Colombia IGBC                    -        -        -
 Currencies                          daily %    YTD %
                                      change   change
 Brazil real                 3.7869    -0.82   -12.51
 Mexico peso                20.2578     0.45    -2.76
 Chile peso                     670     0.19    -8.26
 Colombia peso                    -        -        -
 Peru sol                         -        -        -
 Argentina peso                   -        -        -

 (Reporting by Susan Mathew in Bengaluru and Claudia Violante in
Sao Paulo;)
Nuestros Estándares:Los principios Thomson Reuters
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