EMERGING MARKETS-LatAm markets seesaw after recent gains; China data, U.S. rates eyed

rates eyed@ SAO PAULO, July 17 (Reuters) - Latin American stocks and currencies seesawed on Monday as investors remained wary of big trades following sharp gains the week before. Still, stronger-than-expected China data and doubts over the prospect of a U.S. interest rate hike this year supported demand for emerging market assets, keeping a lid on losses. The Mexican peso slipped 0.1 percent after reaching a 14-month high on Friday in its biggest weekly gain since late January. The Brazilian real firmed 0.2 percent. Emerging market assets have spiked in recent weeks as mixed U.S. economic figures and remarks by Federal Reserve policymakers have cast a shadow over the U.S. central bank's plan to hike rates once more in 2017 and three times in 2018. A slower path of rate increases in the United States could boost demand for risky assets, which typically lure investors with the promise of higher yields. Wider emerging market stocks on Monday reached their highest level since April 2015, also supported by a report showing that China, the world's No. 2 economy, expanded faster than expected in the second quarter. Brazilian stocks fell 0.2 percent as traders booked profits from a five-day stretch of gains. Losses were limited by rallying shares of Braskem SA , Latin America's largest petrochemical firm, which touched an all-time high after Morgan Stanley Securities became the latest research house to turn bullish on the stock.

Key Latin American stock indexes and currencies at 1655 GMT:

Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1051.47 0.42 21.43 MSCI LatAm 2718.72 0.16 15.96 Brazil Bovespa 65301.12 -0.21 8.42 Mexico S&P/BVM IPC 51120.50 -0.08 12.00 Chile IPSA 5029.98 0.59 21.16 Chile IGPA 25104.23 0.6 21.08 Argentina MerVal 21536.20 -1.57 27.30 Colombia IGBC 11050.37 -0.17 9.11 Venezuela IBC 130314.71 0.92 311.02 Currencies daily % YTD %

change change Latest

Brazil real 3.1786 0.17 2.22 Mexico peso 17.5820 -0.10 17.98 Chile peso 657.4 -0.03 2.02 Colombia peso 3029.28 -0.20 -0.92 Peru sol 3.245 0.15 5.21 Argentina peso (interbank) 16.8900 -0.18 -6.01 Argentina peso (parallel) 17.61 -0.23 -4.49

(Reporting by Bruno Federowski; Editing by Jonathan Oatis)