November 20, 2017 / 3:19 PM / 25 days ago

EMERGING MARKETS-Chile stocks drop 4 pct after first-round vote

    Nov 20 (Reuters) - Chile's peso currency and benchmark IPSA
stock index fell on Monday after market-friendly presidential
candidate Sebastian Pinera garnered less support than expected
in the country's first round presidential election. 
    Chileans voted for a successor to outgoing center-left
President Michelle Bachelet on Sunday. While billionaire former
President Pinera will move on to a Dec. 17 runoff against
center-left candidate Alejandro Guillier, the race is now seen
as tighter than previously forecast.
     The IPSA stock index was down 4 percent at 5165.28
points as of 12:00 local time (1500 GMT), on track for its
sharpest single-session fall since 2011. While the index hit its
lowest level since September, it is still up 24 percent this
year on rising copper prices and expectations Pinera will win.
    The peso suffered its sharpest depreciation against
the dollar since 2013, slipping 1.97 percent to 637.90 per
dollar.
    Pinera's underperformance led to expectations of a tight
second round, particularly if turnout is high, though Guillier
must unite a fractured center-left in order to win. 
    Both candidates would keep in place the top copper
exporter's longstanding free-market model, though Pinera has
promised investor-friendly policies to turbocharge growth.

    Mexico's stock market as well as stock and currency markets
in Brazil and Argentina were closed on Monday due to national
holidays.
    
    Key Latin American stock indexes and currencies at 1500 GMT.
 Stock indexes                             daily %     YTD %
                               Latest       change    change
 MSCI Emerging Markets           1137,75      0,11     31,95
                                                    
 MSCI LatAm                      2766,76     -0,32     18,20
                                                    
 Chile IPSA                      5165,28     -4.00     24,43
                                                    
 Chile IGPA                     26101,68      3,83     25,89
                                                    
 Colombia IGBC                  10792,55     -0.23      6,80
                                                    
                                                            
 Currencies                                daily %     YTD %
                                            change    change
                                  Latest            
 Mexico peso                      19,022     -0,48      8,30
                                                    
 Chile peso                       637,90     -1,97      4,89
                                                    
 Colombia peso                   3013,26     -0,53     -0,39
 Peru sol                          3,244      -.01      3,31
                                                    
 
    

 (Reporting by Luc Cohen; Editing by Meredith Mazzilli)
  

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