EMERGING MARKETS-Mexican peso gains; Brazil stocks decline

Nov 14 (Reuters) - The Mexican and Chilean pesos rose against a steady dollar on Wednesday, while Brazil's real firmed slightly, recovering from earlier losses. The real was 0.1 percent firmer, after having declined earlier in the session. Disappointment that pension reforms in Brazil may not be passed this year has kept the real under pressure since the beginning of the week, when President-elect Jair Bolsonaro broke the news. Many economists say cuts to Brazil's social security system are essential to controlling a huge federal deficit and regaining Brazil's investment-grade rating. Investors snapped up Brazilian assets in the wake of Bolsonaro's election victory last month, which raised hopes he could make quick advances on fiscal reforms. The Mexican peso rose 0.3 percent, while the Chilean peso firmed 0.4 percent, on track to break a four-day losing streak. Brazilian stocks fell 0.7 percent, led by declines in material and energy shares. The declines were, however, limited by a 5.1 percent gain in food company JBS SA and a 3.2 percent rise in mall operator BR Malls Participacoes, after both posted strong quarterly results overnight. Key Latin American stock indexes and currencies at 1323 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 964.55 -0.15 -16.61 MSCI LatAm 2547.43 -0.27 -9.68 Brazil Bovespa 84357.29 -0.66 10.41 Mexico IPC - - - Chile IPSA 5131.07 0.02 0.02 Argentina MerVal - - - Colombia IGBC - - - Currencies daily % YTD % change change Latest Brazil real 3.8004 0.76 -12.82 Mexico peso 20.4509 0.17 -3.68 Chile peso 688.6 0.49 -10.74 Colombia peso - - - Peru sol - - - Argentina peso (interbank) - - - (Reporting by Susan Mathew in Bengaluru;)

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