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MERCADOS EMERGENTES – La desaceleración del crecimiento preocupa a los activos latinoamericanos, el peso de México se desploma un 1%

    * Brazil cenbank considered hiking by more than 100 bps -
minutes
    * Mexican cenbank seen hiking by 25 bps on Thursday
    * Chilean peso hits near one-year low

    By Susan Mathew
    Sept 28 (Reuters) - Latin American stocks joined a broader
sell-off in markets on Thursday, driven by uncertainty around
economic growth, while surging U.S. Treasury yields weighed on
currencies, pushing the Mexican peso down 1%. 
    Downbeat profit growth at China's industrial firms amid a
power shortage there was the latest data set to spook markets
amid evidence of slowing growth in the world's second largest
economy, a major destination for resource-rich Latam's commodity
exports.
    MSCI's index of Latam stocks tumbled 2.2%,
while its currencies counterpart hit one-month
lows. 
    Brazil's real hit a near six-week low, last
trading down 0.7% at 5.417 to the dollar. Minutes of the central
bank's policy meeting last week showed it eyed raising the key
Selic rate by more than 100 basis points.
    Policymakers plan more increases of that size taking rates
to "significantly restrictive" levels in order to hit their 2022
inflation target, minutes showed. 
    Having begun the year at a record-low 2.00%, the fight
against inflation - now over 10% - has seen the benchmark rate
rise to 6.25%. 
    "We see USD/BRL around 5.33 at year-end, but risks are
rising toward a weaker currency," said strategists at Citi
Research. They see the Selic rate ending the year at 8.25% and
peaking at 9.0% in February 2022.
    In Mexico, the central bank is seen hiking the benchmark
interest rate for the third time in a row by 25 basis points to
4.75% on Thursday as inflation stays above target.
    TD Securities head of EM strategy Sacha Tihanyi expects the
bank to continue to sound hawkish. 
    "MXN's carry has helped it to rebound from bouts of weakness
in 2021. However, rising U.S. yields will place an additional
impetus on Banxico to ensure MXN short-term yields remain
competitive, in order to minimize the potential for MXN
instability."
    On Tuesday, Mexico's peso slumped almost 1% to a one
month low. 
    World's largest copper producer, Chile saw its currency
 drop to a near one-year low as prices of the red metal
ticked lower.
    Chile's House of Representatives is set to vote on the
fourth pension funds withdrawal on Tuesday. The Chilean economy
is expected to grow faster than anticipated, by 9.5% in 2021
from a previous estimate of 7.5%, Finance Minister Rodrigo Cerda
said on Monday.
    The Santiago government also lifted a state of emergency,
put in place due to the pandemic, after successful vaccination
campaigns.
    
    Key Latin American stock indexes and currencies at 1409 GMT:
   Stock indexes           Latest    Daily %
                                     change
 MSCI Emerging Markets      1261.68    -0.45
                                     
 MSCI LatAm                 2256.15    -2.19
                                     
 Brazil Bovespa           112318.34    -1.11
                                     
 Mexico IPC                51326.47    -0.53
                                     
 Chile IPSA                 4321.88    -0.69
                                     
 Argentina MerVal                 -        -
                                     
 Colombia COLCAP            1347.38     0.15
                                     
                                            
      Currencies           Latest    Daily %
                                     change
 Brazil real                 5.4173    -0.72
                                     
 Mexico peso                20.3131    -1.08
                                     
 Chile peso                   799.7    -0.85
                                     
 Colombia peso              3845.93    -0.13
                                     
 Peru sol                    4.1162    -0.09
                                     
 Argentina peso             98.6700    -0.03
 (interbank)                         
                                     
 
 (Reporting by Susan Mathew in Bengaluru
Editing by Mark Heinrich)
  
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Angélica Bracamonte

"Practicante de comida incurable. Amigo de los animales en todas partes. Especialista en Internet. Nerd de la cultura pop".

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