* China shares log biggest weekly decline since early August
* Turkish assets outperform broader EM weekly trend
* Indian shares set to record best week since late-May
By Agamoni Ghosh
Sept 27 (Reuters) - Emerging market assets fell on Friday, on track to end the week lower as uncertainty related to the U.S.-China trade war and rising political tensions in Washington and London made investors wary of betting on riskier assets.
MSCI's index for developing world stocks fell 0.5%, on track to record its second week of losses as despite both China and the United States committing to trade talks in October, expectations of a deal were scant.
"We are not convinced that renewed trade talks will to lead to the results the market may once again be hoping for, and any optimism ahead of the October meeting may be fleeting," said Bas van Geffen, quantitative analyst at Rabobank.
Political uncertainty further dented sentiment after the launch of an impeachment inquiry into U.S. President Donald Trump and Britain's Supreme Court ruled Prime Minister Boris Johnson's suspension of parliament was unlawful.
Mainland China shares ended marginally higher, but logged their biggest weekly decline since early August.
Hong Kong shares ended the week nearly 2% lower as pro-democracy protests in the Chinese-ruled territory seemed unlikely to die down any time soon.
Indian shares were set to record their best week since May as a corporate tax cut to boost the slowing economy was overwhelmingly cheered by investors.
Most emerging market currencies fell against a firmer dollar, with South Africa's rand, Russia's rouble and China's yuan, all set to end the week lower.
Turkey's lira was in line for a 1.2% gain as signs that the central bank has front-loaded interest rate cuts and that tensions with Washington are easing calmed investor nerves.
Istanbul's BIST 100 stock index was set to close the week nearly 3% higher with automakers outperforming after state banks announced they would provide lower interest rates on loans to purchase locally produced cars on Thursday.
Ankara has encouraged state banks to lower interest rates on various items to spur lending and return the economy to positive growth, after it contracted annually in the last three quarters.
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For RUSSIAN market report, see (Reporting by Agamoni Ghosh; Editing by Catherine Evans)