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