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Latam markets fall across the board after weak China data
Shoaib Ur Rehman
03 May, 2016
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Copyright Reuters, 2016
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![](https://i.brecorder.com/images/2016/05/latin-american-currencies.jpg">BRASILIA: Latin American currencies and stocks fell sharply on Tuesday, erasing part of recent gains after weaker factory data in China dragged commodities prices away from four-month highs.</P><P>Brazil's Bovespa stock index dropped nearly 2 percent and the broader MSCI Latin American stock index tumbled 3 percent, while currencies dropped more than 1 percent against the US dollar.</P><P>Activity at China's factories shrank for the 14th straight month in April as demand stagnated, a private survey showed. China is a major buyer of Latin America's raw materials, from oil to Brazilian iron ore and Chilean copper.</P><P>Shares of Brazilian miner Vale SA, the world's largest iron ore producer, fell nearly 5 percent as commodities prices slipped 1.3 percent.</P><P>Losses in the Brazilian real were intensified by ongoing central bank intervention. The bank offered reverse swaps for a third consecutive day on Tuesday as part of its broader efforts to curb currency gains.</P><P>)
