December 17, 2019 / 7:28 PM / in 2 months

EMERGING MARKETS-Latam stocks mark 15-day winning streak, Chile's peso leads currencies higher

    * Latam stocks, currencies rise as sentiment stays positive
    * Chile's peso climbs for fifth straight day
    * Argentine stocks snap 4-day winning streak

 (Adds details on Mexico, Argentina, updates prices)
    By Ambar Warrick
    Dec 17 (Reuters) - Latin American assets edged higher on
Tuesday with stocks extending gains into a fifteenth straight
session, while the Chilean peso led currencies higher on a rise
in copper prices.
    Lingering optimism over a Sino-U.S. trade deal struck last
week saw continued buying of developing world risk assets, with
the MSCI's index of Latin American stocks
gaining about 0.5% for the day. The index has been on a winning
streak since late-November.
    Market participants were now looking for more details about
the Sino-U.S. trade pact, which is set to suspended tariffs due
to take effect on Dec. 15, but is yet to be formally signed by
the two sides.
    Brazilian stocks trended higher on stronger energy
and financial stocks, with the former taking support from robust
oil prices.
    The MSCI's index of Latin American currencies
 also firmed, extending gains into an eighth
straight session. 
    Chile's peso raced ahead of local peers as copper
prices hit a seven-month high on potential shortages next year
due to production problems. The Latin American country is the
biggest exporter of the industrial metal.
    The Mexican peso was flat, while local stocks
were a touch lower ahead of a central bank policy decision on
Thursday, where it is expected to lower its key interest rate
again as the economy stagnates, according to a Reuters poll.

    " Mexico is definitely going to cut by 25 basis points (BPS)
and that is inline with consensus. There were people betting for
a 50 bps clipping but that certainly does not seem to be the
case this week," said Christian Lawrence, senior market
strategist, LatAm FX at Rabobank.  
    "I do think that when we look at next year, we can expect a
more aggressive easing cycle."
    Argentine stocks snapped a four-day winning streak,
posting their worst loss in a week after the country's new
government unveiled higher taxes on agricultural exports and new
taxes on foreign assets held abroad.
    The bill is aimed at increasing government income to
restructure about $100 billion in debt obligations by the end of
March and keep Argentina's financial system functioning.
    The peso was slightly weaker to the dollar.
    Argentina's economy contracted 1.7% in the third quarter
versus the year-ago period, the government's Indec statistics
agency said on Tuesday.
    
    Key Latin American stock indexes and currencies at 1859 GMT:
    
    Stock indexes             Latest    Daily % change
 MSCI Emerging Markets         1101.90            1.28
                                        
 MSCI LatAm                    2852.99            0.35
                                        
 Brazil Bovespa              112364.99            0.42
                                        
 Mexico IPC                   44121.34           -0.53
                                        
 Chile IPSA                    4807.45           -1.41
                                        
 Argentina MerVal             36430.36          -3.162
                                        
 Colombia COLCAP               1615.15           -1.03
                                        
                                                      
       Currencies             Latest    Daily % change
 Brazil real                    4.0686           -0.20
                                        
 Mexico peso                   18.9170            0.04
                                        
 Chile peso                      755.8            0.69
                                        
 Colombia peso                 3340.09            0.27
 Peru sol                        3.339            0.36
                                        
 Argentina peso                59.8150            0.01
 (interbank)                            
                                        
 
        

 (Reporting by Ambar Warrick, Sagarika Jaisinghani and  in
Bengaluru; Editing by Alex Richardson and Richard Chang)
  
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