EMERGING MARKETS-Brazil stocks hit one-week low as commodities fall

SAO PAULO, Oct 19 (Reuters) - Brazilian stocks fell to a one-week low on Thursday as concerns over global demand drove prices of base metals sharply lower, hammering shares of miners and steelmakers. The benchmark Bovespa stock index fell 1.2 percent, slipping further away from all-time highs reached earlier this month. Shares of Vale SA, the world's largest iron ore miner, dropped for a third straight day, tracking a slump in China-listed iron ore futures. Steel mills in the northern part of China are expected to cut output by up to half during the winter on government orders to limit pollution, dampening demand for the metal. State-controlled oil company Petróleo Brasileiro SA also followed crude prices lower. Investors booked profits from a two-week string of gains in oil futures triggered The decline in Brazilian stocks came even after President Michel Temer escaped corruption charges in a lower house committee vote, potentially supporting his efforts to streamline the nation's costly social security system. The full lower house still needs to vote on the matter. "Once the charges are rejected, Congress will devote its attention to issues related to the fiscal adjustment, but the government's position to negotiate seems weaker," analysts at Coinvalores brokerage wrote in a report. The Brazilian real seesawed, in tandem with other Latin American currencies. The Mexican peso firmed as much as 0.4 percent but gave up some gains after stronger-than-expected U.S. jobs figures cemented expectations of a December interest rate hike. Higher U.S. rates could reduce the allure of high-yielding assets.

Key Latin American stock indexes and currencies at 1445 GMT:

Stock indexes daily % YTD % change change


MSCI Emerging Markets 1115.66 -1 30.69 MSCI LatAm 2930.30 -0.75 26.14 Brazil Bovespa 75657.62 -1.22 25.62 Mexico S&P/BVM IPC 49834.17 -0.21 9.18 Chile IPSA 5474.65 -0.78 31.88 Chile IGPA 27450.97 -0.72 32.39 Argentina MerVal 26406.17 0.74 56.08 Colombia IGBC 10979.22 -0.3 8.40 Venezuela IBC 572.08 2.16 -98.20 Currencies daily % YTD % change change


Brazil real 3.1674 -0.09 2.58 Mexico peso 18.8065 0.28 10.30 Chile peso 625.6 0.16 7.21 Colombia peso 2924.64 -0.09 2.63 Peru sol 3.236 0.00 5.50 Argentina peso (interbank) 17.3800 0.23 -8.66 Argentina peso (parallel) 17.98 0.39 -6.45

(Reporting by Bruno Federowski; Editing by Dan Grebler)