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EMERGING MARKETS-Brazil stocks hit 2-week high; Chile up after vote

MEXICO CITY, Nov 18 (Reuters) - Brazilian stocks rose to a

two-week high on Monday after a market holiday Friday, boosted

by the announcement of economic reforms in top trade partner

China and the outlook for continued monetary stimulus from the

U.S. Federal Reserve.

Brazilian stocks have bounced back about 5 percent in the

last three sessions after hitting a two-month low last week, and

some chart analysts expect the country's main index could keep

gaining ground into year-end.

* Brazil's benchmark Bovespa stock index rose 1.6

percent to 54,307.04, its highest since Nov. 4. The index

rebounded last week off a key support level, and chart analysts

think it could resume an uptrend seen since July.

* China's leadership unveiled a series of economic reform

measures on Friday, pledging to let the market play a "decisive"

role in the economy and outlining changes designed to unleash

new sources of growth.

* China is Brazil's biggest trading partner and a key

purchaser of Latin American raw materials such as iron-ore, soy,

copper and petroleum.

* Shares of state-run oil company Petroleo Brasileiro SA

rose 4.84 percent while iron-ore miner Vale SA

added 2.07 percent.

* Latin American stocks have also gotten a boost since last

week on bets that Janet Yellen, who is set to lead the U.S.

Federal Reserve, will not move quickly to cut back the Fed's

monetary stimulus, which has supported demand for riskier assets

around the globe.

* Shares of steelmaker Cia Siderúrgica Nacional SA

rose 1.66 percent, adding to a 3.6 percent gain on

Thursday, when it reported a better-than-expected quarterly

profit. Grupo BTG Pactual analysts recommended investors take

profits on the shares as risks persist from logistics and mining

projects at the company.

* Chile's IPSA index rose 1.13 percent after

center-left presidential candidate Michelle Bachelet looked set

to win a run-off vote next month after an election on Sunday.

But her coalition failed to capture enough seats in the Senate

to assure she will be able to make good on a pledge to raise

corporate taxes.

* The IPSA had slumped to a more than two-month low last

week, but it has risen for the last three sessions.

* Chilean retailer Falabella added 1.95 percent

while Banco Santander Chile gained 2.48 percent.

* Mexican stocks were closed for a holiday. The country's

main index jumped 3 percent last week to close just below its

one-year exponential moving average, a level that has acted as a

strong resistance to further gains since the IPC index

fell below the measure in August.

Latin America's key stock indexes at 2330 GMT:

Stock indexes Latest daily % YTD %

change change

MSCI LatAm 3,397.41 2.13 -10.54

Brazil Bovespa 54,307.04 1.6 -10.90

Mexico IPC 41,034.11 Closed -6.11

Chile IPSA 3,842.26 1.13 -10.67

Chile IGPA 18,853.39 0.8 -10.52

Colombia IGBC 13,435.65 -0.06 -8.70

Peru IGRA 15,556.41 -1.07 -24.59

Venezuela IBC 2,189652.91 -2.13 364.46