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EMERGING MARKETS-Emerging stocks on track for 4th week of gains

| LONDON

LONDON May 12 Emerging equities stalled on Friday and currencies slipped after Wall Street ended with losses, although the index was on track for its fourth week of gains having crossed the 1,000-point mark for the first time since mid-2015.

The collapse in almost all market volatility measures in recent days is a source of support for riskier assets though emerging equities and currencies have been pressured by the recent setback in commodity and oil prices.

MSCI's emerging equity index was flat, having retreated slightly after hitting 1,000 points on Thursday. It started the year at around 862 points.

The South African rand, Turkish lira and Russian rouble all weakened around 0.5 percent versus the dollar.

One-month implied volatility on the rand is at the lowest since March while lira volatility has tumbled to lows last seen in October.

"The large drop in euro/dollar volatility has spilled over to some extent into emerging markets but the impact on EM vol has not been as dramatic as perhaps could be expected," said Manik Narain, a strategist at UBS.

He said increased confidence in the resilience of China's economy was supporting emerging equities especially in Asia while recent data has pointed to a growth upswing across the developing world.

Thailand's first quarter growth is expected to have expanded at the fastest pace in four years, while Malaysia's central bank held interest rates steady, predicting growth to strengthen.

"There is some confidence that the consumer in China is supporting the global tech cycle and that's keeping equities robust despite some pullback in the industrial metals complex."

In other news, the state-owned International Bank of Azerbaijan said it was suspending payments on some debts and asked creditors for support as it restructured some liabilities.

The bank's 2019 dollar bond fell more than 17 cents to 82 cents, according to Reuters data.

For GRAPHIC on emerging market FX performance 2017, see tmsnrt.rs/2e7eoml For GRAPHIC on MSCI emerging index performance 2017, see tmsnrt.rs/2dZbdP5

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see) Emerging Markets Prices from Reuters Equities Latest Net Chg % Chg % Chg

on year

Morgan Stanley Emrg Mkt Indx 999.54 -0.81 -0.08 +15.92

Czech Rep 1015.56 +2.75 +0.27 +10.19

Poland 2366.22 +1.29 +0.05 +21.47

Hungary 34205.21 +346.33 +1.02 +6.88

Romania 8422.65 +57.63 +0.69 +18.88

Greece 791.43 -5.73 -0.72 +22.96

Russia 1095.94 -9.89 -0.89 -4.89

South Africa 47385.25 -103.20 -0.22 +7.93

Turkey 95373.98 +259.93 +0.27 +22.06

China 3083.36 +21.86 +0.71 -0.65

India 30157.53 -93.45 -0.31 +13.26

Currencies Latest Prev Local Local

close currency currency

% change % change

in 2017

Czech Rep 26.58 26.57 -0.03 +1.63

Poland 4.22 4.22 +0.08 +4.36

Hungary 310.20 310.01 -0.06 -0.44

Romania 4.54 4.54 +0.06 -0.16

Serbia 123.07 123.05 -0.02 +0.23

Russia 57.25 57.05 -0.34 +7.01

Kazakhstan 315.78 315.86 +0.03 +5.66

Ukraine 26.46 26.41 -0.17 +2.06

South Africa 13.44 13.36 -0.62 +2.14

Kenya 103.22 103.20 -0.02 -0.82

Israel 3.61 3.61 -0.01 +6.73

Turkey 3.60 3.57 -0.60 -1.94

China 6.90 6.90 +0.00 +0.59

India 64.33 64.39 +0.10 +5.63

Brazil 3.14 3.14 -0.00 +3.61

Mexico 18.86 18.83 -0.20 +9.83

Debt Index Strip Spd Chg %Rtn Index

Sov'gn Debt EMBIG 317 3 .01 7 79.93 1

All data taken from Reuters at 09:37 GMT. Currency percent change calculated from the daily U.S. close at 2130 GMT.

(Editing by Catherine Evans)

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