The morning intel from across Latin America. Free.
By subscribing you agree to our privacy policy. We never share your email.
Chilean equities lost ground on Tuesday, with the benchmark S&P IPSA — the main gauge of Santiago’s stock market — sliding 0.77% to 10,880. The decline was driven overwhelmingly by a single, powerful blow: a 3.3% rout in the shares of SQM, the world’s second-largest lithium producer and a heavyweight in the local index.
The session told a two-sided story. While equities stumbled, the Chilean peso firmed sharply against the US dollar, gaining 0.95% to close at 930.9. A stronger local currency often pressures the large export-oriented companies that dominate the IPSA by shrinking the peso value of their overseas earnings.
Trading centred squarely on SQM, which racked up $28 million in turnover — far more than any other name. The broader market struggled to find momentum, with retailers Falabella and Cencosud edging down 0.9% and 0.8% respectively, while industrial conglomerate Copec provided a slender cushion with a 0.8% gain.
