Most Latam stocks and currencies retreat on China COVID woes



* Consumer prices in Brazil rise less than expected in May

* Colombian assets fall as oil prices decline

* Mexico's annual inflation rate hits 7.65% in May

By Shreyashi Sanyal and Bansari Mayur Kamdar

June 9 (Reuters) - Most Latin American stocks and currencies fell along with their broader emerging market peers on Thursday after Shanghai imposed new lockdown measures, while the Peruvian sol rose ahead of a central bank announcement where it is expected to hike key rates.

Stocks in China .CSI300 .SSEC , one of Latin America's biggest trading partners, ended lower, hurting the broader emerging markets equities index .MSCIEF .

The MSCI's index for Latin American stocks .MILA00000PUS fell 1.6%, with Colombia stocks .COLCAP in the lead, as oil prices dropped on China demand worries. The Colombian peso COP= fell 1.2% against the dollar.

The Peruvian sol PEN= firmed 0.4% ahead of the central bank's monetary policy statement where it is expected to hike benchmark interest rate by 50 basis points to 5.50% as authorities battle stubborn inflation.

"You're probably seeing a little bit of positioning ahead of the rate decision. The market is widely expecting a half point rate increase, and there's an expectation that you could get some more hawkishness in the statement afterwards," said Edward Moya, senior market analyst at OANDA.

Brazil's real BRL= BRBY edged 0.2% lower in choppy trading. Consumer prices in Brazil as measured by the benchmark IPCA index BRCPI=ECI rose 0.47% in May, below market forecasts.

"The fall in Brazilian inflation in May suggests that Copom will continue to slow the pace of tightening with a 50 basis point Selic rate hike to 13.25%, next week," said Nikhil Sanghani, emerging markets economist at Capital Economics.

"But with inflation set to stay in double-digit territory in the coming months, we doubt that this would mark the end of the tightening cycle."

Brazilian stocks .BVSP fell 0.7%, dragged down by declines in miner Vale SA VALE3.SA .

Eletrobras ELET3.SA rose 3.7% after demand for shares in the power holding company in its privatization neared 70 billion reais ($14.3 billion) and the offering is twice oversubscribed, two sources with knowledge of the matter said.

In Mexico, data showed consumer prices rose 7.65% in the year through May, slightly above expectations even as the central bank drives a monetary tightening cycle to tame high inflation.

The peso MXN= fell 0.5% against the greenback. The Mexican central bank, known as Banxico, said last week it was willing to act more forcefully on monetary policy if needed to bring inflation back down to target, and could raise rates by 75 basis points at its next meeting later this month.

Separately, a poll by Reuters showed Argentina's benchmark interest rate is likely to be increased another 200 basis points next week as the central bank seeks to counter soaring and painful inflation that could top 70% this year.

Key Latin American stock indexes and currencies at 1925 GMT: Stock indexes

Latest

Daily % change MSCI Emerging

1065.36

-0.78 Markets .MSCIEF

MSCI LatAm

2318.18

-1.52 .MILA00000PUS

Brazil Bovespa

107584.33

-0.72 .BVSP

Mexico IPC

49462.69

-0.72 .MXX

Chile IPSA

5237.53

-0.76 .SPIPSA

Argentina MerVal

89114.87

-0.925 .MERV

Colombia COLCAP

1531.05

-1.9 .COLCAP

Currencies

Latest

Daily % change Brazil real

4.9073

-0.39 BRBY

Mexico peso

19.6731

-0.57 MXN=D2

Chile peso

824.1

-0.35 CLP=CL

Colombia peso

3842.5

-1.22 COP=

Peru sol

3.7398

0.40 PEN=PE

Argentina peso

121.6200

-0.13 (interbank)

ARS=RASL

Argentina peso

205

1.46 (parallel) ARSB=



Peruvian Sol has lagged its Latam peers in the past 30 days Link



Reporting by Shreyashi Sanyal and Bansari Mayur Kamdar in
Bengaluru; Editing by David Clarke and Lisa Shumaker

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