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Brazil's Magalu up on partnership with China's Aliexpress

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Mexico's consumer prices rise in early June

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MSCI indexes hit two-week highs

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Latam stocks up 1.4%, FX add 1%

(Updated at 3 p.m. ET/1900 GMT)

By Johann M Cherian

June 24 (Reuters) - Most Latin American equities and

currencies climbed on Monday, with Mexico's peso among the top

gainers after data pointed to price pressures in the region's

second-largest economy, ahead of a central bank policy decision

later in the week.

The peso rose nearly 0.9% to an over two-week high at

18 against the dollar, while the yield on 10-year treasury bonds

ticked higher after data showed consumer prices increased 0.2%

during the first half of June, compared with economists'

forecasts of a 0.1% increase.

The oil exporter's currency had been among the better

performers as the local central bank delayed further interest

rate cuts. However, concerns around the incumbent Morena party's

election win and possible constitutional reform has brought the

peso down over 5% year-to-date.

"The combination of a softening economic recovery and tight

financial conditions will likely cap inflation as (the year)

progresses, assuming the (peso) stabilises as we expect," said

Andres Abadia, chief Latam economist at Pantheon Macroeconomics.

Monday's data reinforced expectations that Mexico could

leave its benchmark interest rate on hold at 11% later in the

week.

"Depreciation will continue to have a direct effect on

inflation and inflation expectations ... making Banxico's Board

members more cautious than they already were," Abadia added.

An index tracking currencies in the resources-rich region

climbed 1% to a near two-week high against a

weakening dollar, with Brazil's real up 0.9%.

The market focus will be on U.S. Personal Consumption

Expenditure data for May, the Federal Reserve's preferred

inflation gauge that could influence the outlook for its

monetary policy and consequently policy easing cycles in most

emerging economies.

The Colombian peso rose 1.4% to a week's high, ahead

of its central bank decision later this week. The currency of

the world's largest copper producer, Chile lost 0.5%.

Among stock markets, MSCI's index tracking regional bourses

rose 1.4% to a two-week high, with Brazil's

Bovespa adding 1%.

Magazine Luiza jumped more than 10% after the

retailer and Chinese e-commerce powerhouse Aliexpress entered

into an agreement for both firms to list and sell products on

each other's platforms.

Meanwhile, the Argentine peso in the parallel market

fell to a record low, as per traders. Data showed the country's

unemployment rate stood at 7.7% in the first quarter of the

year, up from 6.9% a year ago.

Key Latin American stock indexes and currencies:

Latest Daily %

change

MSCI Emerging Markets 1084.76 -0.2

MSCI LatAm 2215.44 1.46

Brazil Bovespa 122547.02 0.99

Mexico IPC 52476.17 -0.59

Chile IPSA 6459.67 -0.45

Argentina MerVal 1536835.07 -2.514

Colombia COLCAP 1375.78 0.76

Currencies Latest Daily %

change

Brazil real 5.3919 0.90

Mexico peso 17.9430 0.87

Chile peso 944.9 -0.50

Colombia peso 4090.69 1.40

Peru sol 3.8015 -0.27

Argentina peso (interbank) 908.5000 -0.44