EMERGING MARKETS-Latam stocks slip on Televisa, Chile rate view

* Televisa slumps to 6-month low after Isuacell bid

* Investors raise bets of aggressive rate hike in Chile

* Brazil Bovespa up 0.2 pct, Mexico IPC 1.03 pct

MEXICO CITY/SAO PAULO, April 7 (Reuters) – Latin American
stocks fell on Thursday on bets Chile would again hike interest
rates aggressively and as shares in Televisa sank after its bid
to enter Mexico’s mobile market was seen as too pricey.

A strong aftershock in Japan also weighed on global markets
and pushed investors to book profits on strong recent gains in
the region’s equities.

The MSCI Latin American stocks index (.MILA00000PUS: Quote, Profile, Research) lost
0.29 percent, falling back for the second day after closing at
its highest level since June 2008 on Tuesday.

The region’s stocks ended the first quarter on a strong
rally, but there are few signs that global investors are
willing to drive prices much higher.

Emerging markets outpaced gains in developed markets during
the recovery from the 2008 financial crisis.

But investors pulled funds out of emerging markets during
most of the first quarter as they eyed improving economic
prospects in the United States and Europe and rising inflation
and interest rates in emerging markets.

“Emerging markets are still much more expensive than U.S.
stocks, so I think this behavior of further flows into the
developed markets will continue,” said Alberto Bernal, head of
research at Bulltick Capital Markets in Miami.

News of another earthquake in Japan, the world’s
third-largest economy, weighed on sentiment. Japan was hit by a
massive quake and tsunami in March, also sparking a crisis at a
nuclear plant which still has not been resolved.
[ID:nL3E7F72Y2]

Latin America’s main stock indexes failed to break key
resistance levels in the previous session and retreated.

Mexico’s IPC index (.MXX: Quote, Profile, Research) shed 1.03 percent as shares in
broadcaster Televisa (TLVACPO.MX: Quote, Profile, Research) fell to its lowest since
October.

TOO MUCH?

Televisa lost 4.5 percent after news that it would pay $1.6
billion to buy a 50 percent stake in cell phone operator
Iusacell, giving it a foothold in a market dominated by
billionaire Carlos Slim. [ID:nN0780591]

“They are paying a lot of money,” said Jorge Lagunas, a
portfolio manager at Interacciones.

Chile’s IPSA index (.IPSA: Quote, Profile, Research) gave up 0.84 percent as retailer
Falabella fell 1.58 percent. The index lost ground for the
first time in seven sessions.

The IPSA’s relative strength index suggested stocks could
be overbought this week. The RSI is used in technical analysis
to gauge an asset’s momentum.

Chile’s central bank’s president said on Thursday that
Chile’s economy will grow close to its full capacity this year,
backing expectations of another 50 basis point interest rate
hike this month. [ID:nN07109118]

Brazil’s benchmark Bovespa stock index (.BVSP: Quote, Profile, Research) rose 0.2
percent.

The market was supported by a relief rally after the
government did not impose any new taxes on foreigners’ equity
investments. Fears of such a measure drove down stocks in the
previous session. [ID:nN06227464]

Still, traders said foreign investors were still eyeing
Brazil with caution.

“The people are still afraid to enter the market due to the
possibility of some measure to restrict foreign investment in
stocks,” a trader said.

Shares in energy start up OGX (OGXP3.SA: Quote, Profile, Research) rose 2.53 percent
while credit card operator Cielo (CIEL3.SA: Quote, Profile, Research) added 3.02
percent.

Meanwhile, shares of iron miner Vale (VALE5.SA: Quote, Profile, Research) fell 0.92
percent.
(Reporting by Michael O’Boyle in Mexico City, Luciana Lopez
and Aluisio Alves in Sao Paulo; Editing by Andrew Hay)

EMERGING MARKETS-Latam stocks slip on Televisa, Chile rate view