(Recasts, updates prices throughout)
By Bruno Federowski
SAO PAULO, Feb 15 (Reuters) - Latin American markets rose broadly on Thursday as global stocks shrugged off recent losses and traded higher, supporting demand for riskier assets.
Currencies and stocks across the region gained as global markets recovered from a deep selloff triggered by figures showing rising U.S. wages and a quickening pace of inflation.
Some investors fear that inflationary pressure could drive the Federal Reserve to raise interest rates faster than expected in the coming months, driving capital away from stocks and out of riskier emerging market assets.
But most licked their wounds in recent days following last week's deep losses.
Traders struggled to explain the move, though some said weaker-than-expected U.S. factory output helped to drive some bargain-hunting. Others said Asian bears may be squaring up positions ahead of the Lunar New Year holiday. Currencies from Mexico , Chile and Colombia firmed between 0.2 percent and 0.5 percent, while MSCI's Latin American stock index rose 1.54 percent.
Brazil's benchmark Bovespa stock index was up nearly 1 percent, supported by a rally in shares of miner Vale SA on the heels of rising iron ore prices.
But the Brazilian real seesawed as traders adjusted their holdings following the long Carnival holiday.
Yields on interest-rate futures fell slightly after minutes from the central bank's latest policy meeting showed policymakers diverged last week over how strongly to hint at the end of rate cuts. Brazil's central bank last week cut the benchmark Selic interest rate by 25 basis points, as widely expected, to an all-time low of 6.75 percent, and it strongly hinted at the end of the easing cycle. Key Latin American stock indexes and currencies at 2150 GMT:Stock indexesLatestDaily YTD pct
pctchange
changeMSCI Emerging Markets1,202.62 1.463.81 MSCI LatAm 3,110.07 1.549.97Brazil Bovespa 84,290.570.9 10.32Mexico IPC 48,808.39 0.84 -1.11Chile IPSA 5,630.06 1.251.18Chile IGPA 28,317.77 1.041.20Argentina MerVal 32,023.641.56.51Colombia IGBC 11,688.12-0.382.79
Currencies LatestDaily YTD pct
pctchange
changeBrazil real 3.2274-0.262.43Mexico peso 18.5220 0.366.35Chile peso 593.18 0.293.62Colombia peso 2,854.2 0.484.48Peru sol 3.246 0.46 -0.28Argentina peso (interbank)19.6500 1.32 -5.34 Argentina peso (parallel) 19.81 0.76 -2.93 (Reporting by Bruno Federowski, editing by G Crosse)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.