SAO PAULO, Sept 11 (Reuters) - Brazilian stocks hit a record high on Monday as investors grew more confident about the passage of President Michel Temer's sweeping economic agenda, including a challenging revamp of the country's social security system. Billionaire Joesley Batista, an owner of JBS SA, the world's largest meatpacker, surrendered to the police over the weekend after losing immunity from prosecution under a previous plea deal. Traders perceived the arrest as a boost to Temer, whom Batista accused of taking bribes. The allegations forced him to spend political capital in Congress fighting corruption charges rather than pushing laws that investors consider key to Brazil's long-term economic growth. A review of the "JBS plea deal will weaken the political punch of accusations against Temer," analysts at political consultancy Eurasia Group wrote in a report. Brazil's benchmark Bovespa stock index rose as much as 1.9 percent to 74,472, surpassing a previous all-time high of 73,920. The index is up 23 percent so far this year. Blue-chip and state-owned companies led the rally. Shares of state power utility Centrais Elétricas Brasileiras SA , which Temer plans to privatize, posted the biggest increase, extending its five-day gain to 20 percent. JBS shares were nearly flat after Batista's arrest and the company's deal to sell British food unit Moy Park Ltd to Pilgrim's Pride Corp, also a JBS subsidiary, for about $1 billion. The Brazilian real strengthened 0.3 percent on a day when trading of most Latin American currencies was range-bound. Concerns over an escalation of military tensions between the United States and North Korea subsided on Monday after Pyongyang did not conduct a nuclear test over the weekend. The United States and its allies had been bracing for another long-range missile launch in time for the 69th anniversary of North Korea's founding on Saturday.
Key Latin American stock indexes and currencies at 1500 GMT:
Stock indexes daily % YTD % change change
MSCI Emerging Markets 1098.78 0.7 26.55 MSCI LatAm 2982.69 1.38 25.7 Brazil Bovespa 74258.61 1.61 23.30 Mexico S&P/BVM IPC 50335.03 0.5 10.28 Chile IPSA 5135.24 0.85 23.70 Chile IGPA 25679.58 0.8 23.85 Argentina MerVal 24118.40 0.42 42.56 Colombia IGBC 11243.38 0.3 11.01 Currencies daily % YTD % change change
Brazil real 3.0829 0.31 5.39 Mexico peso 17.6555 0.34 17.49 Chile peso 622.5 -0.55 7.74 Colombia peso 2913.29 -0.35 3.03 Peru sol 3.231 0.03 5.66 Argentina peso (interbank) 17.2075 -0.01 -7.74 Argentina peso (parallel) 17.82 0.34 -5.61
(Reporting by Bruno Federowski; Editing by Lisa Von Ahn)