EMERGING MARKETS-Latam stocks fall, China data weighs on Brazil
Jan 2 (Reuters) - Latin American stocks slumped on the first trading day of 2014, hurt by weak manufacturing data from China, Brazil's top export market.
Stocks in Mexico fell by the most since early November while Brazilian equities saw their biggest one-day drop in a month.
* Brazil's benchmark Bovespa stock index fell 2.26 percent to 50,341.25, falling sharply back from a key resistance level around 51,600. Trading volume remained thin, however, with many traders still on holiday.
* China's factory activity slowed to a three-month low in December, the HSBC/Markit manufacturing Purchasing Managers' Index survey showed Thursday, reinforcing views that growth momentum in the world's second-largest economy has slowed.
* China is Brazil's biggest trading partner and a key purchaser of Latin American commodity exports such as iron ore, soy, copper and petroleum.
* Shares of iron ore mining firm Vale SA fell 2.47 percent, contributing most to the index's losses, while steelmaker Usinas Siderurgicas de Minas Gerais SA, known as Usiminas, dropped 3.8 percent.
* Mexico's IPC index shed 1.26 percent to 42,218.45 as shares of telecommunications firm America Movil, controlled by billionaire Carlos Slim, dropped 2.17 percent.
* The IPC pulled back from key resistance around the 42,600 level, which the index has failed repeatedly to break past in the last month.
* The resistance level coincides with the two-thirds retracement of the IPC's January to June slump. A clean break higher in the coming sessions could point to another rally of about 7 percent back to January's record high.
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