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EMERGING MARKETS-Latam stock markets underpinned by risk-on sentiment; FX mixed

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Sept 11 (Reuters) - Most Latin American stocks rose on Wednesday as the prospect of increased stimulus in major economies underpinned risk-on buying in emerging markets, with safe-haven plays such as gold and bonds taking a backseat. MSCI's index of Latin American stocks added 1.5% to climb to a near one-month high, while currencies were mixed against a strong dollar. Investors perceived a conciliatory move from China to exempt 16 types of U.S. products from additional retaliatory tariffs for a year as a positive step in the trade war between Washington and Beijing. Comments from a senior White House adviser, however, played down expectations for the next round of talks, raising doubts on whether a trade deal would be agreed on this year. Investors are looking forward to the European Central Bank's monetary policy meeting on Thursday, where officials are widely expected to trim interest rates and introduce a stimulus package to shore up economic growth. Brazil's Bovespa index gained about 0.9%, with consumer discretionary stocks accounting for most gains after data showed retail sales in July marked their biggest rise so far this year. Financial services provider B3 SA Brasil Bolsa Balcao rose 3% and was the biggest boost to the Bovespa, while apparel retailer Lojas Renner SA rose about 2%. Stock indices in Mexico and Colombia gained between 0.3% and 0.4%. Currencies in the region were more mixed, with Brazil's real gaining 0.4%, while Colombia's peso shed 0.3%. Colombia is slated to take out nearly 19.2 trillion pesos ($5.7 billion) in new debt to finance next year's budget, Finance Minister Alberto Carrasquilla told Congress on Tuesday, without specifying whether the funds would come from bonds, loans or other sources. The Chilean peso retreated more than 0.4% against the dollar, as the price of copper, the country's top export, continued to fall on weak demand for the metal. The Mexican peso and the Colombian peso fell about 0.3% each. Both currencies had gained substantially over the last week, tracking robust oil prices.

Latin American stock indexes and currencies at 1417 GMT

Stock indexes Daily % change

Latest

MSCI Emerging Markets 1017.19 0.9MSCI LatAm 2699.56 1.48Brazil Bovespa 104127.08 1.06Mexico IPC 42689.13 0.24Chile IPSA 4886.49 0.13Argentina MerVal 28359.79 -0.255Colombia IGBC 12810.14 0.43Currencies daily % change

Latest

Brazil real 4.0626 0.80Mexico peso 19.5493 -0.30Chile peso 714.6 -0.42Colombia peso 3369.75 -0.30Peru sol 3.3468 -0.11Argentina peso (interbank) 56.0600 -0.02

(Reporting by Ambar Warrick in Bengaluru; Editing by Dan Grebler)