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EMERGING MARKETS-Mexico stocks rise on energy reform optimism, China lifts Brazil

* Brazil Bovespa gains 0.43 pct, Mexico IPC up 0.87 pct

MEXICO CITY, Dec 9 (Reuters) - Mexican stocks rose on Monday as investors cheered an energy reform bill that offers the biggest opening up of the country's energy sector in decades to private investors.

Brazilian stocks also rose, gaining for the third straight session following better than expected Chinese economic data, though shares of chemical maker Braskem SA dropped after the company said it is renegotiating a key contract.

Mexico's IPC index posted its biggest one-day gain since the end of November on optimism over an energy reform bill, which would open up the world's No. 10 oil producer to private investment by allowing lucrative contracts.

The unexpectedly market-friendly bill, which would let private firms partner with ailing state oil firm Pemex via profit-sharing, risk-sharing and service contracts as well as licenses, is expected to be voted on shortly.

Brazil's benchmark Bovespa stock index rose 0.43 percent to 51,165.38 as steelmakers and commodities producers led gains.

China's exports handily beat forecasts in November, adding to evidence of economic stabilization in Brazil's top trading partner, while consumer inflation dropped unexpectedly, easing concerns over monetary policy tightening.

China is a key purchaser of Latin American commodities exports such as iron-ore, petroleum, soybeans and copper.

Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA , known as Usiminas, rose 1.5 percent, while rival Companhia Siderurgica Nacional SA rose 2.00 percent.

Preferred shares of iron-ore producer Vale SA advanced 0.55 percent.

Shares of Braskem, Latin America's largest petrochemical firm, fell nearly 5 percent after the company said on Monday that it is in negotiations with Petrobras, its main naphtha supplier. A source with knowledge of the situation told Reuters that Petrobras is looking to pass on some of its higher costs to Braskem when the contract, which expires early next year, is renegotiated.

Mexico's IPC index rose 0.87 percent to 42,289.23.

Shares of telecommunications firm America Movil, controlled by billionaire Carlos Slim, rose 1.18 percent, contributing most to the index's gains, while miner and infrastructure company Grupo Mexico, which is seen as a key beneficiary of the energy reform, advanced 3.07 percent.

Chile's IPSA index hovered near Friday's closing level as a 2.24 percent rise in shares of Latam Airlines Group SA helped offset a 1.55 percent fall in conglomerate Copec.