November 20, 2018 / 2:52 PM / a month ago

EMERGING MARKETS-Latin American FX, stocks feel global stock rout pressure

    Nov 20 (Reuters) - Latin American currencies and stocks
weakened on Tuesday, extending losses from the previous session
as a world-wide rout in stock markets continued.
    The Mexican peso fell 0.5 percent against the dollar
which perked up slightly as the euro lost momentum due to
jitters about Italian banks and the stocks rout.
    Financial markets in Brazil were closed for a local holiday.
    Wall Street opened lower after an Apple-led tech
slide overnight triggered the global sell-off. 
    Investor sentiment, already marred by Sino-U.S. trade
tensions, took a dive as slackening demand for iPhones added to
the recent concerns of a slowdown in the global economy.  
    "The emerging markets fall was a spillover from yesterday
and I think global investors will be watching the tech space
very closely now given the run some of these stocks have had,"
Chris Turner, head of EMEA and LATAM research at ING had said
earlier in the day. 
    "It seems almost as though the last bastion of outperformers
(U.S. tech stocks) have now come under pressure."
    The Argentine peso led losses in the region, down 1
percent and on pace to log its steepest one-day loss in a week.
The Chilean peso fell after four straight gaining days.
    Among stocks, Buenos Aires' Merval index dropped
more than 2 percent, while Chile's IPSA shaved off
0.8 percent.
    
    Key Latin American stock indexes and currencies at 1431 GMT:
 
 Stock indexes                              daily %     YTD %
                                   Latest    change    change
 MSCI Emerging Markets              973.41    -1.51    -14.69
                                                     
 MSCI LatAm                        2632.72    -0.67     -6.28
 Mexico IPC                              -        -         -
 Chile IPSA                        5125.35    -0.75     -0.75
                                                     
 Argentina MerVal                 30426.52    -2.19      1.20
 Colombia IGBC                           -        -         -
                                                             
 Currencies                                 daily %     YTD %
                                             change    change
                                    Latest           
 Mexico peso                       20.4765    -0.52     -3.80
                                                     
 Chile peso                          671.9    -0.55     -8.52
 Colombia peso                     3183.43    -0.31     -6.33
 Peru sol                            3.379    -0.09     -4.20
                                                     
 Argentina peso (interbank)        36.2600    -0.85    -48.70
                                                     
 
 (Reporting by Susan Mathew in Bengaluru; Editing by David
Gregorio)
  
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