(Updates table, prices) SAO PAULO, March 1(Reuters) - The Mexican peso strengthened on Wednesday after U.S. President Donald Trump took a conciliatory stance in a key speech, backing away from his harsh campaign rhetoric.
The peso has weakened sharply since Trump's unexpected Nov. 8 election victory as he vowed to curtail trade and financial flows with Mexico.
In a prime-time televised address to the country on Tuesday, Trump offered a more restrained tone than during his election campaign, telling Congress he was open to immigration reform.
The peso firmed more than 1 percent, outperforming other mostly flat Latin American currencies.
Demand for emerging market currencies was muted after a handful of U.S. Federal Reserve policymakers signaled the possibility of a March interest rate increase.
Higher U.S. rates could drain investments away from high-yielding assets.
Still, Brazil's benchmark Bovespa stock index rose 0.5 percent, supported by rising shares of state-controlled oil company Petróleo Brasileiro SA.
In Mexico, Cemex shares rose more than 6 percent and were the highest performing on the Mexican exchange, outperforming the IPC index, which was up 1.3 percent.
It was the best one-day percent gain in nearly a year for the company.
Key Latin American stock indexes and currencies at 2300 GMT: Stock indexes daily % YTD % Latest change chang e MSCI Emerging 938.47 0.22 8.84 Markets MSCI LatAm 2615.86 0.61 11.76 Brazil Bovespa 66988.88 0.49 11.23 Mexico IPC 47467.95 1.3 4.00 Chile IPSA 4399.95 0.92 5.99 Chile IGPA 22007.77 0.9 6.14 Argentina MerVal 19358.97 1.26 14.43 Colombia IGBC 9889.73 0.01 -2.35 Venezuela IBC 36228.78 1.45 14.27 Currencies daily % YTD % change chang Latest e Brazil real 3.09 0.62 5.07 Mexico peso 19.80 1.52 4.77 Chile peso 650.5 -0.04 3.11 Colombia peso 2928 -0.15 2.51 Peru sol 3.26 -0.06 4.76 (Reporting by Bruno Federowski; Editing by Jonathan Oatis)