EMERGING MARKETS-Mexico's peso slips after inflation data; Latam stocks rise

* Mexico headline inflation speeds up slightly in March * El Salvador launches tender offer for external debt due 2025-2029 * Argentina likely to cut interest rates 'soon' - source * Grupo Financiero Galicia to buy HSBC business for $550 mln * Latam stocks up 0.6%, FX adds 0.3%. (Updated at 3:45 p.m. ET/1945 GMT) By Bansari Mayur Kamdar April 9 (Reuters) - The Mexican peso slipped from nine-year highs on Tuesday after data showed headline inflation in the region's second-largest economy rose in March, although less than expected, while broader gauges of regional stocks and currencies both rose. The peso fell 0.6% to 16.4149 against the dollar, retreating from its highest level in nine years. Mexico's headline inflation reached 4.42% in March, a modest increase from the 4.40% seen in February, although below the 4.50% expected by economists polled by Reuters. Meanwhile, inflation excluding volatile food and energy prices continued to moderate, standing at 4.55% in March from 4.64% in February. "The CPI data not showing stubborn inflation serves as fuel for markets to believe that Banxico can afford to do another interest rate cut sooner rather than later," said Juan Perez, director of trading at Monex. "Unlike all other currencies, MXN has performed in an impressive way against the buck all of 2024, so there is some profit-taking also finally taking place." Latin American stocks advanced 0.6%, with Argentina's Merval climbing 1% and extending gains for the third straight session. Mexican stocks fell 0.8%, while Brazil's Bovespa gained 0.7%. The MSCI index for Latin American currencies added 0.3%, trading at levels last seen in 2011. Investors remained cautious globally ahead of U.S. inflation data on Wednesday that could provide more clues on the Federal Reserve's rate cut path, with the dollar softening marginally. Firm copper prices lifted the currency of top producer Chile 0.3% and Brazil's real rose 0.4%. Oil producer Colombia's peso fell 0.2%, as crude prices slipped with negotiations continuing between Israel and Hamas on a ceasefire in Gaza. Shares of Grupo Financiero Galicia jumped 2.4% after the company bought the business of the local subsidiary of HSBC for $550 million. Data showed Argentina's industrial output fell 9.9% in February on a yearly basis. In addition, Argentina's central bank is set to lower the country's benchmark interest rate from its current level of 80% soon, a source at the bank told Reuters. El Salvador launched a tender offer for its external debt due from 2025 to 2029, President-elect Nayib Bukele said Monday in a post on X. Domestic shocks in emerging economies in the G20 are increasingly affecting growth in the rich world, according to a report by the International Monetary Fund. HIGHLIGHTS: ** IMF reaches staff-level deal with Ivory Coast ** Taiwan stocks hit record high ** Russian stocks rise to highest since before Russia invaded Ukraine Key Latin American stock indexes and currencies at 1945 GMT: Latest Daily % change MSCI Emerging Markets 1056.19 0.67 MSCI LatAm 2578.97 0.59 Brazil Bovespa 129791.88 0.73 Mexico IPC 57497.59 -0.85 Chile IPSA 6670.35 1.02 Argentina MerVal 1243854.55 1.156 Colombia COLCAP 1408.74 1.58 Currencies Latest Daily % change Brazil real 5.0079 0.43 Mexico peso 16.4149 -0.62 Chile peso 940.9 0.33 Colombia peso 3768.62 -0.17 Peru sol 3.6797 -0.08 Argentina peso 864.5000 0.00 (interbank) Argentina peso 980 0.51 (parallel) (Reporting by Bansari Mayur Kamdar and Lisa Mattackal in Bengaluru; Editing by Angus MacSwan and Jonathan Oatis)