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EMERGING MARKETS-Chile stocks drop 4 pct after first-round vote

Nov 20 (Reuters) - Chile's peso currency and benchmark IPSA stock index fell on Monday after market-friendly presidential candidate Sebastian Pinera garnered less support than expected in the country's first round presidential election. Chileans voted for a successor to outgoing center-left President Michelle Bachelet on Sunday. While billionaire former President Pinera will move on to a Dec. 17 runoff against center-left candidate Alejandro Guillier, the race is now seen as tighter than previously forecast. The IPSA stock index was down 4 percent at 5165.28 points as of 12:00 local time (1500 GMT), on track for its sharpest single-session fall since 2011. While the index hit its lowest level since September, it is still up 24 percent this year on rising copper prices and expectations Pinera will win. The peso suffered its sharpest depreciation against the dollar since 2013, slipping 1.97 percent to 637.90 per dollar. Pinera's underperformance led to expectations of a tight second round, particularly if turnout is high, though Guillier must unite a fractured center-left in order to win. Both candidates would keep in place the top copper exporter's longstanding free-market model, though Pinera has promised investor-friendly policies to turbocharge growth.

Mexico's stock market as well as stock and currency markets in Brazil and Argentina were closed on Monday due to national holidays.

Key Latin American stock indexes and currencies at 1500 GMT.

Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1137,75 0,11 31,95 MSCI LatAm 2766,76 -0,32 18,20 Chile IPSA 5165,28 -4.00 24,43 Chile IGPA 26101,68 3,83 25,89 Colombia IGBC 10792,55 -0.23 6,80 Currencies daily % YTD % change change

Latest

Mexico peso 19,022 -0,48 8,30 Chile peso 637,90 -1,97 4,89 Colombia peso 3013,26 -0,53 -0,39 Peru sol 3,244 -.01 3,31

(Reporting by Luc Cohen; Editing by Meredith Mazzilli)