February 9, 2018 / 3:08 PM / 12 days ago

EMERGING MARKETS-LatAm markets little changed, head to weekly losses

    By Bruno Federowski
    SAO PAULO, Feb 9 (Reuters) - Latin American markets on
Friday were mostly unfazed by this week's global stock rout,
supported by expectations of strong global growth.
    Stocks and currencies in the region still
headed for weekly losses, though smaller than their
developed-market peers.
    Most saw little trade on Friday ahead of Brazil's Carnival
holidays, which will keep the region's largest markets closed on
Monday and Tuesday.
    "We may not see many gains today as recent volatility should
prompt defensive positions against global USD swings," analysts
at Continuum Economics wrote in a client note.
    The Brazilian real slipped 0.2 percent, capping a 3.5
percent decline this week, while the benchmark Bovespa stock
index was nearly flat.
    The limited moves came despite a 4-percent decline in
Chinese stocks, which fostered risk-aversion in wider markets.
Rising U.S. stocks, however, partially offset those concerns.
    Global markets have suffered in recent weeks as rising U.S.
wages stoked fears that U.S. borrowing costs may rise faster
than expected, draining capital away from other economies.
    A Reuters poll, however, showed that Latin American
currencies are likely to emerge unscathed from the recent rout,
supported by a stronger growth outlook at home and abroad.

    
    Key Latin American stock indexes and currencies at 1720 GMT:
 Stock indexes                                daily %    YTD %
                                               change   change
                                  Latest               
 MSCI Emerging Markets              1145.41     -1.52      0.4
 MSCI LatAm                         2981.38      0.03     5.38
 Brazil Bovespa                    81522.82     -0.01     6.70
 Mexico IPC                        48051.63       0.4    -2.64
 Chile IPSA                         5638.66     -0.23     1.33
 Chile IGPA                        28473.15     -0.17     1.76
 Argentina MerVal                  31052.41       0.1     3.28
 Colombia IGBC                     11554.07      0.34     1.61
                                                              
 Currencies                                   daily %    YTD %
                                               change   change
                                     Latest            
 Brazil real                         3.2852     -0.15     0.86
 Mexico peso                        18.8025      0.49     4.77
                                                       
 Chile peso                           602.2      0.07     2.07
 Colombia peso                      2889.25     -0.11     3.21
 Peru sol                             3.262      0.03    -0.77
 Argentina peso (interbank)         20.1400     -0.79    -7.65
                                                       
 Argentina peso (parallel)            20.15     -1.09    -4.57
                                                       
 
    
 (Reporting by Bruno Federowski; Editing by Nick Zieminski)
  
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