June 19, 2018 / 8:49 PM / 6 months ago

EMERGING MARKETS-Brazil stocks rebound from low, Latam FX slips

 (Recasts with Brazil stock market gains)
    SAO PAULO, June 19 (Reuters) - Brazilian stocks powered back
from a more than one-year low on Tuesday, lifted by bets that an
emerging markets selloff has gone too far, while Latin American
currencies slipped amid worries about a U.S.-China trade war. 
    Brazil's Bovespa index jumped more than 2 percent
from its lowest level since March last year, boosted by gains in
banks Bradesco and Itaú Unibanco. 
    Both banks had shed more than 15 percent over the last 10
sessions.
    "It was a buying opportunity," said Pablo Spyer, head of
trading at broker Mirae.
    Foreign investors have pulled about $5.5 billion out of
emerging market economies since the U.S. Federal Reserve's
interest rate hike last week, data from the Institute of
International Finance showed on Tuesday.
    Worries about rising U.S. borrowing costs as well as
concerns about global trade tensions have hit riskier assets.  
    U.S. President Donald Trump stepped up trade war rhetoric on
Monday, threatening a 10-percent tariff on more than $200
billion of Chinese goods. Beijing warned it would retaliate.

    Major currencies in the region were off at least 0.3 percent
by mid-day. The peso in copper-dependent Chile led
losses, falling more than 0.4 percent.
    
Key Latin American stock indexes and currencies at 1957 GMT:
    
 Stock indexes                Latest       Daily   YTD pct
                                             pct    change
                                          change  
 MSCI Emerging Markets         1,085.10    -1.89     -4.53
                                                  
 MSCI LatAm                    2,453.49      1.6    -14.62
 Brazil Bovespa               71,559.00      2.5     -6.34
 Mexico IPC                   46,499.88    -0.35     -5.78
 Chile IPSA                    5,438.48    -0.16     -2.27
 Chile IGPA                   27,471.14    -0.25     -1.82
 Argentina MerVal             29,102.66     5.23     -3.20
 Colombia IGBC                12,135.91    -1.34      6.73
 Venezuela IBC                64,889.43     9.83  5,037.15
                                                          
 Currencies                      Latest    Daily   YTD pct
                                             pct    change
                                          change  
 Brazil real                     3.7422    -0.09    -11.46
 Mexico peso                    20.5360    -0.14     -4.08
 Chile peso                       639.8    -0.41     -3.93
 Colombia peso                 2,919.88     0.08      2.13
 Peru sol                         3.283    -0.21     -1.40
 Argentina peso (interbank)     27.7500    -0.18    -32.97
                                                  
 Argentina peso (parallel)        28.25    -0.35    -31.93
                                                  
 
 (Reporting by Flavia Bohone in Sao Paulo and Michael O'Boyle in
Mexico City; Editing by Sandra Maler)
  
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