Latin American stocks opened generally higher in early trading Wednesday as Brazilian investors reacted positively to an anticipated interest rate cut and other markets echoed a rebound on Wall Street.
Brazil's Ibovespa stock index rose 2 percent to trade at 38,101 in early-afternoon trading.
Analysts say investors are optimistic that Brazil's central bank will cut the benchmark Selic rate to 13 percent from 13.75 percent.
Brazil's government hopes that the cut will stimulate an economy that is rapidly slowing and showing signs of being hit by the global financial crisis.
On Monday, officials said Brazil lost 654,000 jobs in December _ the worst on record since May 1999.
Mexico's IPC index rose 0.45 percent to 19,299 in early-morning trading, and Argentina's Merval index jumped 1.1 percent to 1,056.
Bucking the trend were Chile's IPSA index, which dipped 0.36 percent to 2,472, and Colombia's IGBC index which dropped 0.21 percent to 7,487.
Wall Street rebounded smartly in early trading after investors received some reassurance from IBM's better-than-expected outlook for 2009.
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