EMERGING MARKETS-Brazilian real leads Latam FX higher, stocks gain

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* Stocks globally up on hopes China will ease tech, COVID crackdown * Dollar eases for third session, down 0.7% * Brazil's real up 1.5% on rate hike bets, firm commodity prices * Rouble reverses rally as Russia eases capital controls * Turkish lira extends losses to ninth straight session By Bansari Mayur Kamdar and Anisha Sircar May 17 (Reuters) - Latin American stocks rose on Tuesday as risk appetite improved on hopes of an easing of China's crackdowns on tech and COVID-19, while Brazil's real led regional currencies higher, boosted by rate hike expectations and firm commodity prices. MSCI's index of Latin American stocks rose 1.8% extending gains for their fifth straight session, while its currencies counterpart gained 1.2%. "You’ll likely see more strength in Latin American stocks, because of the improving outlook from China ... and the amount of rate hikes left in their tank is nowhere near what the Fed will have in store," said Edward Moya, senior market analyst at OANDA. Equities globally recovered on optimism about the easing of China's COVID-19 lockdowns after Shanghai went three days with no new community infections. Aiding sentiment, the Chinese Vice-Premier Liu He said the government supported the development of the sector and public listings for technology companies, bolstering hopes of an easing of the tech crackdown. The Brazilian real rose 1.5% to 4.98 against the dollar supported by firm commodity prices, greater interest rate hike expectations and a weaker dollar. Brazil's central bank Monetary Policy Director Bruno Serra indicated on Monday that policymakers have not ruled out further interest rate hikes beyond June, saying "time will tell". The U.S. dollar fell 0.72%, extending losses for its third straight session. A stronger dollar, hovering near 20-year highs, had weighed on riskier emerging market and Latam assets in the past few weeks. The Mexican peso and the Colombian peso added 0.2% and 0.9% respectively, as the oil producers benefited from crude prices hitting their highest in seven weeks. The Chilean peso and Peru's sol gained 0.8% and 0.4%, respectively, boosted by strong copper prices as easing lockdown restrictions in top metals consumer China stoked hopes for improving demand. Analysts and executives said Peru risked losing out on billions of dollars of mining investment if the government fails to defuse protests that are hitting the industry and denting production. Brazilian metal and mining company Vale SA also rose 0.6% tracking firm copper and iron prices, boosting Brazil's Bovespa Index up 1%, alongside financial stocks. Elsewhere, the Russian rouble weakened 0.3% against the dollar after the central bank eased some capital controls that were the main driver of its strength in the past few weeks. Turkey's lira fell 1.5%, extending losses for its ninth straight session, as concerns about a global recession fuel selling pressure on the currency. Key Latin American stock indexes and currencies at 1515 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1031.27 2.36 MSCI LatAm 2328.49 1.81 Brazil Bovespa 108698.10 0.43 Mexico IPC 50957.26 0.78 Chile IPSA 4969.24 2.07 Argentina MerVal 91744.45 1.978 Colombia COLCAP 1510.83 -0.42 Currencies Latest Daily % change Brazil real 4.9805 1.40 Mexico peso 19.9814 0.19 Chile peso 849.2 0.92 Colombia peso 4034.43 0.34 Peru sol 3.757 0.35 Argentina peso 118.0300 -0.14 (interbank) Argentina peso 204 0.49 (parallel) (Reporting by Bansari Mayur Kamdar and Anisha Sircar in Bengaluru; editing by David Evans)