EMERGING MARKETS-Latin American currencies firm against stronger dollar

    May 21 (Reuters) - Most Latin American currencies firmed on
Tuesday, with Mexico's peso cutting some losses to trade
marginally higher against a stronger dollar. 
    President Andres Manuel Lopez Obrador on Monday said he
would discuss ways to reduce the tax burden of state oil firm
Pemex.
    The peso was 0.2% higher extending gains to a second
session. 
    Pemex was downgraded by top rating agencies recently and
worries remain that Mexico's sovereign credit rating may come
under review if satisfactory measures are not taken to support
Pemex and control its debt.
    Brazil's real maintained gains from the previous
session when pension reform optimism boosted both the currency
and stocks.
    Investors cheered the pace of crucial pension reforms after
the bill's congressional coordinator on Monday said his report
on the proposed legislation will be ready by June 15, or perhaps
earlier. 
    The Bovespa stock index climbed on Tuesday on
broad-based gains. 
    Colombian stocks also rose, in line with world
stocks that gained after Washington temporarily eased trade
restrictions imposed last week on China's Huawei, providing some
relief on the U.S-China trade front.
    Chile stocks, however, shed 0.2% to hits the
lowest level in nearly 2-1/2 years, while Mexican shares
slipped 0.4%, erasing gains at the start of the session. 
    In early trades, Argentine stocks gained 2.5% to
touch a more than one-week high. The country's currency
strengthened after a wobbly session on Monday as investors
digested a twist in the country's presidential election race
after the main populist challenger opted instead to launch a
vice presidential bid.
    
    Key Latin American stock indexes and currencies at 1431 GMT:
 
    Stock indexes             Latest    Daily %
                                         change
 MSCI Emerging Markets          997.38      0.33
                                        
 MSCI LatAm                    2585.26      1.58
                                        
 Brazil Bovespa               93499.44      1.69
                                        
 Mexico IPC                   43329.02     -0.44
                                        
 Chile IPSA                    4914.48     -0.23
                                        
 Argentina MerVal             34355.49      2.58
                                        
 Colombia IGBC                12135.70      0.27
                                        
                                                
       Currencies             Latest    Daily %
                                         change
 Brazil real                    4.0666      0.93
                                        
 Mexico peso                   19.0300      0.16
                                        
 Chile peso                      696.1      0.00
                                        
 Colombia peso                 3340.62      0.28
 Peru sol                        3.343      0.12
                                        
 Argentina peso                44.7200      1.12
 (interbank)                            
                                        
 

 (Reporting by Susan Mathew in Bengaluru;
Editing by Susan Thomas)
  

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