Chile Markets: IPSA & the Peso — September 5, 2026
Today’s Focus
Chilean stocks lost ground on Thursday, with the S&P IPSA, Chile’s benchmark stock index, falling 1.14% to settle at 11,315.26 points. Only two of the eleven key names tracked advanced.
SQM-B, the market’s usual busiest stock, dropped 3.0% on turnover of about 28,472 million pesos (roughly US$30 million). Retail names also struggled, with Falabella down 1.3%.
The peso softened alongside the dip in stocks. The dollar closed at 934.58 pesos to the dollar, up 0.19%.
That leaves the peso about 3.2% below its weakest point of the past year.
What matters today. A down session hit Chile’s lithium and retail names hardest. The peso also eased as the dollar strengthened.
01 The session in one read
Chilean shares had a poor Thursday. The S&P IPSA, the index of Chile’s 31 largest listed companies, closed at 11,315.26 points, down 1.14%.
The fall was broad rather than dramatic. Only two of eleven closely watched shares rose, and consumer and retail names finished near the bottom.
The peso also slipped. The US dollar ended at 934.58 Chilean pesos, up 0.19%.
That is a small move for the peso. It matches the stock market’s cautious mood.
SQM, the big lithium producer, was the stand-out on the downside, sliding around 3%. Lithium prices and copper both matter enormously for Chile.
The mood in commodities on Thursday did not encourage investors.
The IPSA’s 1.14% drop hit most of the market. Nine of eleven key shares fell on the session.
Only utilities managed a modest gain on the day. SQM-B’s 3% drop led the decliners, with Falabella and Cencosud also weak.
The peso’s move to 934.58 per dollar fits a firmer-dollar trend. It stays far from the 965.50 mark, the weakest point in its 52-week range.
The key question is whether copper’s tight supply eases. Julius Baer, the Swiss private bank, expects it to ease over time.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| S&P IPSA close | 11,315.26 | −1.14% | Weak session for Chile’s benchmark |
| USD/CLP | 934.58 | +0.19% | Peso weakened slightly |
| USD/CLP vs 52-wk high | −3.2% | — | Peso not far from its weakest |
| 52-wk USD/CLP range | 851.67 – 965.50 | — | Still mid-to-weak part of the range |
| Copper (London Metal Exchange) | $6.52/lb | — | Chile’s anchor export metal |
The headline is straightforward: the IPSA lost more than one percent and the peso eased against the dollar.
The peso’s close of 934.58 sits well inside its 52-week range. The weakest point was 965.50; the strongest was 851.67.
A weaker index and a softer currency often go together. That combination usually means foreign investors turned more cautious about Chilean assets. Rio Times · Live Market Intelligence
Live Market IntelligenceChile — Live Market Board
Chile — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
IPSA
11,315.26
-1.14%
—
11,445.90
11,210
10,984
1,513,213,483
USD/CLP
913.98
+0.04%
-5.67%
913.65
915.11
906.68
—
COPPER
6.61
+0.03%
+46.70%
6.61
6.71
6.61
39,543
SQM-B
65,305
-0.84%
+49.03%
65,860
66,949
64,978
76,539
COPEC
5,964
-1.09%
-11.70%
6,030
6,100
5,960
634,331
BSANTANDER
78.37
-2.28%
+35.94%
80.20
81.69
78.34
36,288,711
FALABELLA
6,334
-1.48%
+23.28%
6,429
6,450
6,300
26,085,814
ENELAM
87.09
+0.10%
-10.13%
87.00
87.40
86.50
13,106,417
CENCOSUD
1,946
-2.19%
-35.30%
1,990
2,010
1,945
966,528
CMPC
1,020
-1.96%
-29.10%
1,040
1,050
1,015
3,526,677
BANCO CHILE
184.96
-1.01%
+32.87%
186.85
189.99
184.33
18,101,240
LATAM AIR
24.08
-1.11%
+16.61%
24.35
24.59
23.88
573,612,753
SOUTHERN COPPER
193.97
-0.26%
+104.01%
194.48
199.36
192.59
367,102
03 Why it moved — lithium and retail drag
The weight of the session came from SQM and the big consumer names. SQM-B, the lithium-focused share, fell 3.0% on the day’s heaviest turnover: about 28,472 million pesos, or roughly US$30 million.
Lithium prices have been under pressure. Buyers were not chasing the producer on Thursday.
Falabella, the department-store and retail group, dropped 1.3%. Cencosud, the region-wide supermarket chain, also finished weak.
Copper, the other half of Chile’s commodity story, settled near $6.52 a pound in London. Swiss private bank Julius Baer said copper’s tightness looks artificial.
It expects prices to ease over time. Copper also drives Chile’s government revenue and mining profits.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| SQM-B | Most traded | −3.0% | 28,472m pesos (~US$30m) turnover; lithium weakness |
| CHILE (Banco de Chile) | Steady | −0.0% | $13m traded; flat session |
| BSANTANDER | Bank | +0.8% | $11m traded; rare gainer |
| AGUAS-A | Utility | +1.2% | $6m traded; defensive bid |
| COPEC | Energy | +1.0% | $5m traded; bucked the down trend |
| FALABELLA | Retail | −1.3% | $4m traded; consumer caution |
| QUINENCO | Gainer | +1.9% | Top domestic riser |
| MALLPLAZA | Gainer | +1.8% | Shopping-centre strength |
| CMPC | Decliner | −1.2% | Pulp and paper pressure |
| ITAUCL | Decliner | −0.7% | Bank slipped |
The busiest names tell a story about where investors were focused. SQM-B’s turnover of about 28,472 million pesos (roughly US$30 million) dwarfed every other stock.
Banks were mixed on the day. Banco de Chile ended flat on $13 million traded.
BSANTANDER rose 0.8% on $11 million in volume. Utilities and consumer names were the top gainers.
Aguas Andinas rose 1.2%. Shopping-centre operator Mallplaza climbed 1.8%.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| Ibovespa | Brazil | −0.02% |
| IPC | Mexico | −0.42% |
| Merval | Argentina | −0.29% |
| COLCAP | Colombia | +0.40% |
| BVL Perú | Peru | −0.31% |
Latin America was mostly in the red on Thursday, though the moves were mostly small.
Colombia was the outlier, with the COLCAP rising 0.40%. Mexico’s IPC, its benchmark stock index, fell hardest among the large markets, down 0.42%.
The live market board above carries the settled closes for all the regional indices.
06 The technical picture
For the peso, the dollar’s close of 934.58 leaves the exchange rate in the middle-to-weak portion of its 52-week range. The key level to watch is 965.50, the peso’s weakest point in the past year.
The IPSA is now working lower after this 1.14% retreat. That extends its recent slide lower.
A rebound would need Chilean stocks to reclaim recent highs. For now, weak commodity sentiment is keeping the short-term trend lower.
07 What to watch
- Copper prices: Julius Baer expects medium-term easing; any slide could hit the IPSA and government revenue forecasts
- SQM lithium sentiment: The stock led turnover and fell 3%; lithium price moves will sway the index
- Peso’s 965.50 weak mark: A push toward this level would signal confidence loss in Chilean assets
- Consumer names: Falabella and Cencosud weakness may reflect household spending worries
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Background: Mercado Libre to Triple Its Logistics Network in Chile by 2027.
Frequently Asked Questions
What is the S&P IPSA?
It is Chile’s main stock index, tracking the 31 biggest and most traded companies listed in Santiago.
Why did SQM-B fall?
The lithium producer dropped 3% on the day’s heaviest turnover, with weak lithium sentiment and commodity caution weighing on the share.
What happened to the Chilean peso?
The peso weakened slightly, with the dollar up 0.19% at 934.58 pesos per dollar.
Which shares rose?
Utilities and select gainers bucked the trend: Aguas Andinas rose 1.2%, Quinenco added 1.9%, and Mallplaza gained 1.8%.
Market data: RT; exchange figures from Bolsa de Santiago
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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