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EMERGING MARKETS-Chile stocks drop nearly 6 pct after presidential vote

(Updates with closing prices, adds quote) 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 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 government-backed candidate Alejandro Guillier, the race is now seen as tighter than previously forecast. The IPSA stock index closed down 5.86 percent at 5076.02 points, its sharpest single-session fall since 2011. The index hit its lowest level since August, but is still up 22 percent this year on rising copper prices and expectations Pinera will win. The peso suffered its sharpest depreciation against the dollar since 2013, slipping 1.68 percent to 637.40 per dollar. The market moves were a "reaction to the risk that Pinera might not win the second round," said Hugo Rubio, head of trading at brokerage BTG Pactual Chile. 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 1137,25 0,07 31,89 MSCI LatAm 2765,27 -0,38 18,14 Chile IPSA 5076,02 -5.86 22,27 Chile IGPA 25604,57 -5,66 23,49 Colombia IGBC 10794,35 -0.21 6,85 Currencies daily % YTD % change change

Latest

Mexico peso 19,002 -0,37 8,40 Chile peso 637,40 -1,68 4,97 Colombia peso 3014,40 -0,57 -0,43 Peru sol 3,238 .09 3,49

(Reporting by Luc Cohen and Felipe Iturrieta; Editing by Meredith Mazzilli and Rosalba O'Brien)