EMERGING MARKETS-Latam FX ease after Fed, stocks join global rally on Evergrande relief

    * Brazil central bank seen hiking by another 100 bps 
    * Peru's seeks to redraft legal framework for mining
    * Fed signals bond-buying taper coming 'soon'  

 (Adds market details, updates prices throughout)
    By Shreyashi Sanyal
    Sept 22 (Reuters) - Latin American currencies eased on
Wednesday, after the latest policy announcement by the U.S.
Federal Reserve supported the dollar, while Brazil's central
bank is seen hiking the key interest rate by 100 basis points
for a second time.
    Stocks in Latam followed global equities
higher, soothed by embattled Chinese developer Evergrande saying
it would make a coupon payment due on Thursday. 
    Fears of contagion from a collapse at China's second-biggest
property developer have rattled markets in recent weeks.
 The impact on an already-slowing Chinese economy
could hurt markets dependent on demand from China, including
commodity markets and in turn assets in resource-rich Latam. 
    But given a default could hurt consumer sentiment, which is
becoming a growing part of China's GDP, the government may step
in to protect home buyers, said John Lau, head of Asian equities
at SEI. 
    The dollar firmed after the Fed cleared the way to
reduce its monthly bond purchases "soon" and signaled interest
rate increases may follow more quickly than
    Brazil's real edged 0.4% lower. The central bank has
already raised the key rate by 325 basis points so far this year
to stave off inflation. Wednesday's decision, due to be
announced after market close, is set to take the rate to 6.25%.

    Annual inflation stood at 9.7% last month compared with the
central bank's target of 3.75%. 
    Intensifying political tension leading up to next year's
elections have seen the currency give up gains of as much as
6.2% to trade lower this year. A hawkish central bank has helped
limit losses. 
    Mexico's peso looked to post its best session in
nearly four weeks, while Peru's sol rose as much as 0.4%.
    Peru's government said it wants to revise the framework for
the world's second-biggest copper producer's mining industry,
redrafting the umbrella law that regulates the sector, as well
as the legislation that sets royalty payments.
    Markets had reacted adversely to leftist President Pedro
Castillo's calls to raise taxes on mining companies during his
    Among shares, commodity-linked stocks led gains as oil, iron
ore and copper prices rallied on Evergrande relief.

    Brazil's Bovespa index jumped more than 2%, on
course for its best session in a month, while Colombia's COLCAP
index snapped a three-day losing streak. 
    Key Latin American stock indexes and currencies at 1934 GMT:
           Stock indexes                     Latest    Daily %
 MSCI Emerging Markets                        1261.49      0.01
 MSCI LatAm                                   2330.84      1.98
 Brazil Bovespa                             112793.00      2.31
 Mexico IPC                                  51436.21       1.2
 Chile IPSA                                   4385.08       1.8
 Argentina MerVal                            74984.39     1.442
 Colombia COLCAP                              1313.31      0.91
               Currencies                    Latest    Daily %
 Brazil real                                   5.3066     -0.41
 Mexico peso                                  20.0532      0.37
 Chile peso                                     787.4     -0.19
 Colombia peso                                3830.53      0.11
 Peru sol                                      4.0995      0.01
 Argentina peso (interbank)                   98.4800      0.00
 Argentina peso (parallel)                        182      1.10

 (Reporting by Susan Mathew and Shreyashi Sanyal in Bengaluru
Editing by Mark Potter and Matthew Lewis)