EMERGING MARKETS-Argentine stocks retreat from record high; Latam stocks fall after weak China data

* Argentina's stocks fall * Israel, Ghana hold key interest rates * Brazil education firm YDUQS jumps on JPM upgrade * Stocks down 0.6%, FX up 0.1% (Updated at 3pm ET/2000 GMT) By Ankika Biswas Nov 27 (Reuters) - Argentine stocks retreated from a record high on Monday as investors booked profits after last week's rally, while other Latin American assets slipped after weak data from China and ahead of a slew of regional and global economic readings. The S&P Merval stock index dropped nearly 9%, with local traders citing profit taking, after the index skyrocketed over 42% last week on hopes of more market friendly economic policies as libertarian Javier Milei won the presidential election. It has risen more than four-fold year-to-date, sharply outperforming other major Latam indexes. Argentina's peso strengthened to 970 per dollar on the informal parallel market. The MSCI index tracking Latam stocks dipped 0.6%, ahead of PMI data from China and inflation prints out of the United States and Europe later this week. Industrial profits in top metals consumer China extended gains in October at a slower pace, suggesting the need for more policy support and weighing on copper prices. The MSCI stocks index remains on track for its biggest monthly gain since March 2022, while the currencies index is set for its strongest month in five. "November is coming to an end with a deluge of key data in Latam and an uncertain (delayed) OPEC decision ready to challenge a very strong month in markets that saw large gains in equity, rates, and currency markets driven by hopes that key central banks are done hiking—and may even begin cuts sooner," said Juan Manuel Herrera, senior economist at Scotiabank. The Latin American currencies gauge edged up 0.1% as the U.S. dollar slid, weighed down by expectations that the Federal Reserve could start cutting interest rates by the first half of next year. Colombia's peso outperformed in the region, rising 1.9% ahead of unemployment data due for release on Thursday. Mexico's peso slipped 0.2%, tracking a drop in oil prices as benchmark Brent crude dropped to near $80-a-barrel ahead of Thursday's delayed OPEC+ meeting, and after Mexico's central bank board member Jonathan Heath said policymakers could "adjust" interest rates by February or March 2024 if inflation continues to drop. Benchmark stock indexes in Mexico and Colombia lost 1.3% and 0.6%, respectively. Brazil's real and the currencies of Chile and Peru were flat against the dollar. Among single stocks, education company YDUQS jumped 9% to top Brazil's benchmark Bovespa following a JPMorgan upgrade to "overweight" from "neutral". On the policy front, Israel's shekel was up 0.7% against the U.S. dollar after its central bank left short-term borrowing rates unchanged at 4.75%. Key Latin American stock indexes and currencies at 2000 GMT: Latest Daily % change MSCI Emerging Markets 978.52 -0.18 MSCI LatAm 2440.48 -0.64 Brazil Bovespa 125520.37 0 Mexico IPC 52214.39 -1.37 Chile IPSA 5757.42 -0.33 Argentina MerVal 837123.98 -8.77 Colombia COLCAP 1128.54 -0.61 Currencies Latest Daily % change Brazil real 4.8995 -0.03 Mexico peso 17.1347 -0.20 Chile peso 871 0.08 Colombia peso 3962 1.91 Peru sol 3.7145 0.16 Argentina peso 358.9500 -0.38 (interbank) Argentina peso 970 2.58 (parallel) (Reporting by Ankika Biswas and Lisa Mattackal in Bengaluru; Editing by Kirsten Donovan and Angus MacSwan)