(Recasts, updates prices, adds quote) By Aaron Saldanha Nov 19 (Reuters) - Latin American stocks and currencies fell on Monday as concerns about global trade in light of U.S.-China trade tensions prompted investors to cut exposure to riskier emerging market assets.
The United States kept up its tough rhetoric against China over the weekend. U.S. Vice President Mike Pence said there would be no end to tariffs on $250 billion of Chinese goods until China changed its ways.
"Today's just one of those classic moves - equities lower, beta currencies lower, safe havens higher - it really is a textbook risk-off mood," said Christian Lawrence, a senior market strategist with Rabobank.
MSCI's index of Latin American stocks fell 0.6 percent to give back some of the 3.2 percent it gained on Friday.
The MSCI index of currencies in the region fell marginally, failing to take advantage of a soft dollar which weakened under pressure following cautious comments about the U.S. economy from U.S. Federal Reserve officials.
Brazil's real weakened 0.4 percent and the Bovespa stocks index fell 0.7 percent with most sectors clocking losses.
Payment processor Cielo was the benchmark's worst performer, down 5 percent, after HSBC and Credit Suisse cut their price targets on the stock. Credit Suisse also downgraded it on weak profit expectations for 2019.
Shares of state-controlled oil firm Petroleo Brasileiro (Petrobras) rose 0.8 percent. Incoming Chief Executive Roberto Castello Branco in an interview signaled his intention to cut costs, do away with some of the firm's downstream operations and focus on its core business.
He added fuel distribution unit BR Distribuidora was not a natural fit for Petrobras and does not generate returns, sending its shares up 5.9 percent as investors bet the government may sell it.
Mexico's peso, considered by many to be a weather vane of trade sentiment, slid 1 percent to snap a three session winning run.
Financial markets in Argentina and stock markets in Mexico were closed for holidays.
Chile's peso firmed slightly, supported by higher prices of copper, the country's main shipment. During the day, the currency touched its strongest level in about a month and a half.
Chilean stocks slid half a percent while their Colombian peers fell 1 percent.
Latin American stock indexes and currencies at 2121 GMT Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 988.31 0.2 -14.69 MSCI LatAm 2650.61 -0.6 -6.28 Brazil Bovespa 87900.83 -0.69 15.05 Chile IPSA 5164.27 -0.51 -0.51 Colombia IGBC 12233.81 -0.97 7.59 Currencies daily % YTD % change change Latest Brazil real 3.7560 0.16 -11.79 Mexico peso 20.3505 -1.03 -3.20 Chile peso 668.2 0.36 -8.01 Colombia peso 3173.7 -0.24 -6.04 Peru sol 3.376 -0.06 -4.12 (Reporting by Aaron Saldanha in Bengaluru; editing by Grant McCool)