The MSCI Latin American stock index rose 0.28 percent after hitting its lowest point in more than a week on Thursday.
Latin American stocks are sensitive to global investment flows tied to investors' risk appetite. A deteriorating global economy has forced some investors to take money out of emerging markets and stash it in safe-haven gold and US dollar-denominated assets.
"After falling for three days in a row, (Brazil's Bovespa index) is bouncing back. There is no single relevant fact moving the market," said Hamilton Moreira Alves, trader a t the Sao Paulo-based BB Investimentos brokerage.
Reports on Thursday showed manufacturing inChinaand in the euro zone's two largest economies declined in the latest month. The broader concern is that the contraction could also jeopardize modest growth in theUnited States.
Brazil's Bovespa index rose 0.46 percent.Mexico's IPC index, which is trading near 14-month lows, rose 0.21 percent andChile's IPSA stock index rose 0.26 percent by 1600 GMT.
The most heavily weighted stock on the Bovespa, state-controlled oil company Petrobras led the index higher, gaining 0.9 percent to 24.02 reais. The stock rose after oil prices climbed on international markets, traders said.
Preferred shares of Vale the company's most traded class of stock, added to the momentum, gaining 0.4 percent to 40.78 reais - the first increase in four sessions.
China is Vale's largest client for its iron ore. The company is the world's biggest producer of the mineral.
HSBC Securities strategists said in a note that the stock may be cheap following a recent sell-off triggered by concerns overChina's economic situation and a tax dispute with the Brazilian government.
Shares of Hypermarcas the maker of beauty-care products and pharmaceuticals, rose for a fifth day after it teamed up with three rival drugmakers to create a research and development company specializing in biotechnology.
A S?o Paulo-based trader who declined to be quoted by name said "markets liked the plan because it could count on financial support from the government," which is seeking to lessen the nation's dependence on foreign laboratories.
Shares in Brazil Foods, the world's largest poultry exporter, fell 1.5 percent after it booked a worse-than expected drop in fourth quarter profits, weighing on the Brazilian index. See:
Brazilian oil start-up OGX fell 3.6 percent after it reported losses of 509.8 million reais for 2011.
Chilean retailer Cencosud traded up almost 1 percent on theSantiagoexchange after it reported profits for all of 2011 of 298.4 million pesos ($610,300).