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EMERGING MARKETS-Chilean stocks surge on positive domestic data
August 30, 2013 / 10:30 PM / in 4 years

EMERGING MARKETS-Chilean stocks surge on positive domestic data

* Chilean stocks jump on positive economic data
    * Brazil Bovespa near flat, Mexico IPC up 0.84 pct

    MEXICO CITY, Aug 30 (Reuters) - Chilean stocks jumped on
Friday on positive domestic economic data, despite concerns
about a possible U.S.-led strike on Syria and a potential
tapering of the Federal Reserve Bank's bond-buying program,
which affected other Latin American bourses. 
    Brazilian stocks seesawed on Friday as blue chips
fell on uncertainty about whether the United States will take
military action against Syria and end the Fed's massive bond
buying scheme, to end the day up 0.17 percent at 50,008.38
    Mexico's IPC stock index rose 0.84 percent. 
    Growing speculation about a U.S.-led military action on
Syria has pushed up oil prices, depressed emerging market stocks
and made investors more risk-averse this week.
    A slew of mixed U.S. economic data released on Friday
offered little help on when the Fed might start to reduce its
bond-buying program, which has until recently held U.S. yields
down and supported the appetite for Latin American equities.
    But in Chile, the jobless rate sank to a lower-than-expected
5.7 percent in May to July, a sign the economy of the top copper
exporter is weathering the storm battering emerging economies.
    That boosted local equities, with the IPSA index up
2.09 percent at 3,628.73 points as retailer Falabella 
jumped 2.97 percent.
    Brazil's second-quarter gross domestic product expanded by
1.5 percent from the previous quarter, the
government said on Friday. That outperformed the 0.9 percent
growth that 38 analysts forecast in a Reuters poll.
    In Mexico, telecommunications firm America Movil 
edged higher after the company threatened to pull out of a 7.2
billion euro bid to acquire Dutch telecoms group KPN.
    Latin America's key stock indexes at 2112 GMT:
 Stock indexes                  daily   YTD %
                                    %  change
                      Latest   change  
 MSCI LatAm           3,047.1    0.48  -19.77
 Brazil Bovespa       50,008.    0.17  -17.95
 Mexico IPC           39,492.    0.84   -9.64
 Chile IPSA           3,628.7    2.09  -15.64
 Chile IGPA           17,993.     1.6  -14.60
 Argentina MerVal     3,935.8    0.34   37.89
 Colombia IGBC        13,731.    0.55   -6.69
 Peru IGRA            16,652.    0.79  -19.28
 Venezuela IBC        1,356,7    0.46  187.78

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