EMERGING MARKETS-Brazil stocks dip on futures expiration, Chile up
* Fed stimulus plan supports Chilean stocks * Brazil's Bovespa falls 0.25 pct, Chile IPSA up 0.84 pct By Danielle Assalve SAO PAULO, Dec 12 (Reuters) - Brazilian stocks slipped on Wednesday, hit by the expiration of index futures, while stocks in Chile rose after the U.S. Federal Reserve announced a new monetary stimulus plan to support the economy of the United States. Chile's IPSA index rose for the second straight day, adding 0.84 percent. Chilean fertilizer, lithium and iodine producer SQM rose 3.21 percent after the company's top executive said its 2012 earnings would be the best in the company's history. Supporting appetite for stocks, the U.S. Fed said it will replace a more modest program set to expire with a fresh round of Treasury purchases that will increase its balance sheet. Such stimulus tends to drive down Treasury yields, boosting the appeal of higher-yielding emerging market assets. Brazil's benchmark Bovespa stock index dipped 0.25 percent as shares of steelmaker Usinas Siderurgicas de Minas Gerais SA fell 3.95 percent and state-controlled oil company Petrobras fell 0.7 percent. "We're in a week with few indicators or pieces of news that can significantly move the market, so we're moving laterally, with small fluctuations," said Aloisio Villeth Lemos, an analyst with Agora Corretora in Rio de Janeiro. "Futures expirations can bring about some changes today," he added. Shares of state-controlled lender Banco do Brasil SA , Brazil's largest bank by assets, rose 0.87 percent after it said on Wednesday that it received Chinese regulatory approval to open a branch there. Mexico's stock market was closed for a holiday. Stock indexes daily % year-to Latest change date % change MSCI LatAm 3,731.40 -0.11 3.6 Brazil Bovespa 59,474.18 -0.25 4.8 Mexico IPC 43,183.28 Closed 16.5 Chile IPSA 4,233.97 0.84 1.4 Chile IGPA 20,722.94 0.71 2.95 Argentina MerVal 2,610.90 2.03 6.02 Colombia IGBC 14,629.52 0.26 15.5 Peru IGRA 20,272.09 0.62 4.1 Venezuela IBC 466,462.63 6.75 298.6
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