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EMERGING MARKETS-Latam FX ease after Fed, stocks join global rally on Evergrande relief

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* Brazil central bank seen hiking by another 100 bps * Peru's seeks to redraft legal framework for mining industry * Fed signals bond-buying taper coming 'soon' (Adds market details, updates prices throughout) By Shreyashi Sanyal Sept 22 (Reuters) - Latin American currencies eased on Wednesday, after the latest policy announcement by the U.S. Federal Reserve supported the dollar, while Brazil's central bank is seen hiking the key interest rate by 100 basis points for a second time. Stocks in Latam followed global equities higher, soothed by embattled Chinese developer Evergrande saying it would make a coupon payment due on Thursday. Fears of contagion from a collapse at China's second-biggest property developer have rattled markets in recent weeks. The impact on an already-slowing Chinese economy could hurt markets dependent on demand from China, including commodity markets and in turn assets in resource-rich Latam. But given a default could hurt consumer sentiment, which is becoming a growing part of China's GDP, the government may step in to protect home buyers, said John Lau, head of Asian equities at SEI. The dollar firmed after the Fed cleared the way to reduce its monthly bond purchases "soon" and signaled interest rate increases may follow more quickly than expected. Brazil's real edged 0.4% lower. The central bank has already raised the key rate by 325 basis points so far this year to stave off inflation. Wednesday's decision, due to be announced after market close, is set to take the rate to 6.25%. Annual inflation stood at 9.7% last month compared with the central bank's target of 3.75%. Intensifying political tension leading up to next year's elections have seen the currency give up gains of as much as 6.2% to trade lower this year. A hawkish central bank has helped limit losses. Mexico's peso looked to post its best session in nearly four weeks, while Peru's sol rose as much as 0.4%. Peru's government said it wants to revise the framework for the world's second-biggest copper producer's mining industry, redrafting the umbrella law that regulates the sector, as well as the legislation that sets royalty payments. Markets had reacted adversely to leftist President Pedro Castillo's calls to raise taxes on mining companies during his campaign. Among shares, commodity-linked stocks led gains as oil, iron ore and copper prices rallied on Evergrande relief. Brazil's Bovespa index jumped more than 2%, on course for its best session in a month, while Colombia's COLCAP index snapped a three-day losing streak. Key Latin American stock indexes and currencies at 1934 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1261.49 0.01 MSCI LatAm 2330.84 1.98 Brazil Bovespa 112793.00 2.31 Mexico IPC 51436.21 1.2 Chile IPSA 4385.08 1.8 Argentina MerVal 74984.39 1.442 Colombia COLCAP 1313.31 0.91 Currencies Latest Daily % change Brazil real 5.3066 -0.41 Mexico peso 20.0532 0.37 Chile peso 787.4 -0.19 Colombia peso 3830.53 0.11 Peru sol 4.0995 0.01 Argentina peso (interbank) 98.4800 0.00 Argentina peso (parallel) 182 1.10 (Reporting by Susan Mathew and Shreyashi Sanyal in Bengaluru Editing by Mark Potter and Matthew Lewis)

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