EMERGING MARKETS-Colombia peso dips on FX measures; stocks jump

* Argentine, Chilean stocks reach new highs on Fed

* Chilean peso gains as dollar weakens broadly

* Financial markets closed in Brazil and Mexico

By Walter Brandimarte

NEW YORK, Nov 2 (Reuters) - The Colombian peso slightly weakened on Tuesday on a series of government measures to curb currency gains, while expectations of more U.S. monetary easing drove Argentine and Chilean equity markets to all-time highs.

Trading volumes were subdued, however, as financial markets in Latin American powerhouses Brazil and Mexico were closed for a holiday. Markets in Chile and Colombia did not operate on Monday.

The Colombian peso lost 0.2 percent to 1,843.70 per U.S. dollar after the government announced on Friday it would buy up to $3.7 billion in forwards markets during 2011, among other measures designed to curb the strength of its currency. For details, see [ID:nN29291838].

"We expected to a certain extent stronger measures by the government on short-term foreign debt," said Juan Carlos Suarez, head of research at Profesionales de Bolsa in Bogota.

Colombia's currency has gained some 13 percent so far this year as ultra-loose monetary policy in developed countries has encouraged investors to seek higher yields in emerging economies.

The Chilean peso , on the other hand, gained 0.41 percent to 487.00 per dollar, as the greenback posted losses globally due to prospects of further monetary easing by the U.S. Federal Reserve on Wednesday.

Expectations that the Fed may pump more liquidity into global markets also drove stocks higher across the globe, sending benchmark equity indexes to record highs in Argentina and Chile.

Chile's blue-chip IPSA index <.IPSA> jumped 1.51 percent to a record 4.986.74 points, also boosted by prospects of strong third-quarter earnings.

Shares of energy and wood pulp conglomerate Copec , the index's top-weighted stock, jumped 3.39 percent to 9,521.00 Chilean pesos.

"Since last week retail and commodity companies have been responding to expectations that those sectors will lead (profits in) the third-quarter earnings season," said Paulina Barahona, senior analyst with Cruz del Sur brokerage in Santiago.

Argentina's MerVal <.MERV> edged up 0.1 percent after jumping as much as 2 percent earlier in the session. The indicator has posted gains in the previous eight sessions. (Additional reporting by Alvaro Tapia in Santiago, Nelson Bocanegra and Jack Kimball in Bogota; Editing by Dan Grebler)