EMERGING MARKETS-Bovespa scales life-high, dollar strength hits Latam FX

(Recasts, updates prices, adds quote) * U.S.-China prelim trade deal in sight * Chile cuts growth forecast for 2019 * Colombian markets shut for holiday By Agamoni Ghosh and Medha Singh Nov 4 (Reuters) - Brazilian shares scaled a new record on Monday to lead Latin American stocks higher as optimism on U.S.-China trade boosted appetite for riskier assets, but currencies in the region slipped against a strong dollar. Washington and Beijing said on Friday they had made progress in defusing an economically damaging trade war, with U.S. officials indicating that a deal could be signed this month. Equities worldwide cheered those trade developments with Wall Street's three main indexes hitting record highs. "Today is a very typical, good old-fashioned risk-on moves that we are seeing right across the board," said Christian Lawrence, senior Latam strategist at Rabobank. "This week is either going to be very quiet with nothing really moving or it's going to very choppy and I think it's going to be very choppy." Gains in regional indices were led by Brazil's Bovespa which rose 0.4% to hit a lifetime-high. Chile's SPIPSA index rose 1% to scale their highest levels in three months, but Mexico's IPC index tacked marginally lower. Latin American currencies underperformed broader emerging market moves on the day with the greenback's strength aiding their weakness. Brazil's real fell 0.5% as investors stayed on the sidelines ahead of a presentation of reform bill drafts to the National Congress this week, another step by the government to reduce the country's mounting fiscal deficit. Chile's peso fell 0.1% despite higher copper prices, the country's top export, after the government lowered growth forecast for 2019 following more than two weeks of street protests. Santiago has been rocked by protests sparked by an increase in metro fares reflecting a much larger and long-simmering anger at the government's failure to alter Chile's economic course despite growing inequality. The Argentine peso officially closed marginally higher against the dollar, while in the black market it jumped 3% as investors watched for signs about future economic policy as a new left-wing government was set to take power. Markets in Colombia were shut for a local holiday. Latin American stock indexes and currencies at 19:37 GMT Stock indexes daily % change Latest MSCI Emerging Markets 1063.43 1.36 MSCI LatAm 2818.32 0.14 Brazil Bovespa 108673.24 0.44 Mexico IPC 43839.74 0.06 Chile IPSA 4801.56 1.21 Argentina MerVal 37281.66 4.305 Colombia IGBC - - Currencies daily % change Latest Brazil real 4.0077 -0.34 Mexico peso 19.1870 -0.43 Chile peso 737.8 -0.19 Colombia peso 3320 -0.05 Peru sol 3.332 0.36 Argentina peso 59.7000 0.08 (interbank) (Reporting by Agamoni Ghosh and Medha Singh; Editing by Cynthia Osterman)