Brazilian Stocks Edge Lower

Brazil's benchmark Bovespa stock index was trading slightly lower below the 111,500 level on Monday, with investors evaluating negotiations around the Transition PEC, which should be voted in the Senate on Wednesday.

Almost all sectors were trading in the red, except basic materials, which were supported by China's reopening optimism.

On the domestic data front, a fresh PMI survey showed Brazil's private sector contracted for the first time since May 2021, mainly due to weak performance in manufacturing.