* Chile"s peso leads Latam FX losses * Brazil stocks fall as Vale slips * Colombia, Argentina markets closed (Adds comments, bullets; Updates prices throughout) By Susan Mathew and Shreyashi Sanyal Aug 16 (Reuters) - Most Latin American currencies fell on Monday as weak data from China, a top trading partner for most economies in the region, sapped risk appetite. Losses in Peru"s sol were marginal, limited by data showing Peru"s economy grew 23.45% in June, its fourth consecutive month of growth, as construction, manufacturing and trade surged back from low points last year. Ceilings on Peru"s public spending and debt have been restored after lifting them during the pandemic, the economy ministry said over the weekend. Starting in 2022, Peru"s deficit will not be higher than 3.7% of GDP, and public debt should not be higher than 38%, the ministry said. Chile"s peso led losses in the region as prices of the top export item, copper, slumped on demand fears after data showed China"s economy may be slowing. "We think that the pace of the regional (Latam) recovery will beat most analysts" expectations in the coming years. With inflation rising, further monetary tightening lies in store," economists at Capital Economics said, adding that political risks could be headwinds. Mexico"s peso slipped 0.1%. The peso, a carry trade favorite, is up 0.2% so far this month in what could be its sixth straight month of gains and the longest such streak since 2008. Carry trade is when investors borrow in a low-yielding currency to invest in higher-yielding assets. A hawkish Mexican central bank and a dovish U.S. Federal Reserve have helped keep interest rate differentials attractive, keeping the peso well bid. "Ranges for the USD/MXN performance have normalized to pre-pandemic ones, with recent price action respecting the 19.70 level a floor and 20.25 as support," strategists at Banorte said. Among stocks, Brazil"s Bovespa slumped 1.7% to hit a three-month low. Iron ore miner Vale was the biggest weight, down 1.2%, while oil major Petrobras tracked crude prices lower. Travel operator CVC slid 6.6% after reporting a loss of 175.6 million reais ($33.43 million). Chile"s IPSA index also lost 1.6%, breaking a four-day winning streak. In Venezuela, representatives of the government and the opposition began a round of talks on Friday in Mexico City aimed at overcoming Venezuela"s acute political and economic crisis, which has caused millions to flee the Latin American nation. Markets in Colombia and Argentina were closed for local holidays. Key Latin American stock indexes and currencies at 1929 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1272.01 -0.69 MSCI LatAm 2454.14 -1.6 Brazil Bovespa 119198.92 -1.65 Mexico IPC 51397.70 -0.18 Chile IPSA 4333.49 -1.55 Argentina MerVal 69544.76 0.075 Colombia COLCAP 1268.79 0.82 Currencies Latest Daily % change Brazil real 5.2817 -0.68 Mexico peso 19.9074 -0.24 Chile peso 787.7 -1.54 Colombia peso 3846 -0.20 Peru sol 4.0719 0.10 Argentina peso (interbank) 97.1000 -0.02 Argentina peso (parallel) 178 0.28 (Reporting by Susan Mathew and Shreyashi Sanyal in Bengaluru; Editing by Anil D"Silva and Nick Macfie) Our Standards: The Thomson Reuters Trust Principles.