(Updates prices, adds Mexico president-elect business meeting) By Bruno Federowski BRASILIA, July 4 (Reuters) - Brazil's benchmark Bovespa index jumped more than 1 percent on Wednesday in low-volume trading on the U.S. Independence Day holiday, while shares of Brazilian power utility Centrais Elétricas Brasileiras SA soared.
Financial markets across Latin America were rangebound as traders avoided making big bets amid low liquidity after days of heightened volatility. Wall Street indexes were all closed on Wednesday in observance of the holiday.
Emerging markets have been battered by concerns over a potential trade war between the United States and China, as well as local political woes.
"Trading volumes are very low, it will be hard to determine a trend for the markets today," a trader at a São Paulo-based brokerage said.
The Mexican peso, in particular, has oscillated strongly in recent days after leftist president-elect Andres Manuel Lopez Obrador won the country's election and stoked concerns of populism.
The Mexican peso inched up 0.14 percent on Wednesday, extending a rebound after advisors to Lopez Obrador sought to assuage investors' worries.
The head of Mexico's business lobby met with the president-elect on Wednesday, describing the encounter as one of certainty and trust.
In Brazil, shares of power utility Eletrobras soared nearly 18 percent after the lower house of Congress late on Tuesday agreed to speed approval of a bill seen as key to the sale of some of the firm's money-losing distribution units.
The vote speeds up a project dealing with the debt of six Eletrobras distribution units, seen as a major sticking point for any potential sale.
Key Latin American stock indexes and currencies at 1933 GMT: Stock indexes Latest Daily YTD pct pct change change MSCI Emerging Markets 1,055.92 -0.17 -8.7 MSCI LatAm 2,481.76 0.75 -12.9 Brazil Bovespa 74,593.47 1.26 -2.37 Mexico IPC 47,278.77 0.48 -4.21 Chile IPSA 5,250.33 -0.09 -5.65 Chile IGPA 26,619.88 -0.1 -4.86 Argentina MerVal 27,398.62 1.13 -8.87 Colombia IGBC 12,389.80 0.23 8.96 Venezuela IBC 122,449.02 17.28 9,594.02 Currencies Latest Daily YTD pct pct change change Brazil real 3.9130 -0.48 -15.33 Mexico peso 19.4230 0.14 1.42 Chile peso 651.9 -0.36 -5.71 Colombia peso 2,904.3 0.09 2.68 Peru sol 3.29 -0.12 -1.61 Argentina peso (interbank) 28.0400 -0.14 -33.67 Argentina peso (parallel) 28.9 0.35 -33.46 (Reporting by Bruno Federowski in Brasilia and Daina Beth Solomon in Mexico City, editing by G Crosse)