Chilean stocks slipped on Tuesday amid a bout of profit-taking but traders expected a regulatory ruling on fixed-line telecommunications providers that could benefit market heavyweight telecoms stock Telefonica CTC Chile, analyst said.
The IPSA index of 40 leading shares dipped 0.56 percent to 1,524.81 points, but is up 2.7 percent so far this year.
The broad-market gauge IGPA slipped 0.15 percent to 7,556.28 points. Turnover was above average at $27.6 million.
Rising copper prices and an upbeat outlook for Chile's economy have fuelled a recent rally in the bourse, with stocks hitting a three-month high a week ago.
"It's logical to see some sliding after several days of strong gains. We can see that in Santander," said Rodrigo Godoy, analyst with BanChile brokerage.
"The volumes today are not bad, they could be better, but I think the market is waiting for news regarding CTC, which should be resolved in the next few hours."
Chile's telecoms regulator is due late Tuesday to propose a new five-year rate regime for connecting calls between different fixed-line operators.