January 10, 2013 / 10:25 PM / 5 years ago

EMERGING MARKETS-Latam stocks flat after China data

* China reports stronger than expected Dec trade data
    * Retailer Cia Hering plunges after sales miss expectations
    * Brazil Bovespa up 0.16 pct, Mexico IPC steady

    By Asher Levine and Danielle Assalve
    SAO PAULO/MEXICO CITY, Jan 10 (Reuters) - Latin American
stocks edged up on Thursday after stronger-than-expected Chinese
economic data boded well for Brazil's commodity-rich stock
market but failed to spur much buying after a recent rally.
    Brazil's benchmark Bovespa stock index rose slightly
for the second straight day, gaining 0.16 percent to 61,678.31,
though volatility was high.
    Mexico's IPC index held near a record high, while
Chile's bourse rose for the eighth straight session.
    Steelmakers and commodities exporters contributed most to
the Bovespa index's gains after data Thursday showed China's
export growth rebounded surprisingly sharply to a seven-month
high in December. 
    China is Brazil's biggest trading partner and a key
purchaser of Latin American commodities exports such as iron
ore, soy, copper and petroleum.
    Shares of oil producer OGX Petroleo e Gas Participacoes SA
 rose 3.53 percent, contributing most to the index's
gains, while shares of steelmaker Usinas Siderurgicas de Minas
Gerais SA added 1.18 percent.
    Hering limited gains in the index, however,
falling more than 10 percent after the company reported
weaker-than-expected fourth-quarter sales late on Wednesday.
    Brazil's Bovespa rose more than 2.5 percent in the first
week of January but has since given up some of those gains, with
investors cautious over upcoming debt-ceiling negotiations in
the United States.
    "The market has slowed down after a significant rise in the
first days of the year," said Rogerio Oliveira, an equities
specialist at Icap Corretora in Rio de Janeiro.
    Mexico's IPC index ticked down 0.01 percent from a
record high on Wednesday, to 44,859.80 points. 
    Supermarket chain Grupo Chedraui fell 0.89
percent, contributing most to the index's drop, while
broadcaster Grupo Televisa fell 1.27 percent.
    Chile's IPSA index rose 0.75 percent to 4,460.44,
boosted by a stronger outlook for Chinese demand for the
country's copper following Thursday's trade data.
    Latin America's key stock indexes at 2144 GMT:
 Stock indexes                                     % change
 MSCI LatAm                          3,922.57          0.48
 Brazil Bovespa                     61,678.31          0.16
 Mexico IPC                         44,859.80         -0.01
 Chile IPSA                          4,460.44          0.75
 Chile IGPA                         21,769.44          0.69
 Argentina MerVal                    3,114.20          1.37
 Colombia IGBC                      14,739.61         -0.53
 Peru IGRA                          21,902.23          1.46
 Venezuela IBC                     474,003.41             0
0 : 0
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