* Sino-U.S. trade deal in 'final throes' - Trump
* Turkey's lira pressured by Erdogan comments
By Shreyashi Sanyal
Nov 27 (Reuters) - Emerging market stocks nudged higher on Wednesday after comments from U.S. President Donald Trump spurred hopes of a resolution to the trade dispute between the United States and China.
Stocks and currencies in the developing world bounced after a fall in the previous session while MSCI's index for emerging market stocks edged 0.3% higher, putting it on track for its third month of gains in a row.
U.S. President Donald Trump said on Tuesday the United States and China were close to agreement on the first phase of a trade deal and that Washington was in the "final throes" of work that would defuse a 16-month trade war with Beijing.
"Hopes of a phase one deal had diminished last week but now we are seeing those hopes renew," said Jason Tuvey, senior EM economist at Capital Economics. "Investors are slightly more optimistic about an agreement coming through."
Signs of progress in trade talks also lifted most Asian markets but stocks in China fell after data showed industrial profits shrank in October at their fastest pace in eight months.
South Africa's rand, often considered one of the most liquid currencies in emerging markets and susceptible to global signals, firmed on Wednesday, while the country's main stock market index rose 0.7%.
Turkey's lira traded slightly lower as Turkish President Tayyip Erdogan urged the central bank on Tuesday to continue slashing interest rates, having already cut its policy rate by 10 percentage points since July.
"There is concern that his comments might lead to further action from the central bank to ease monetary policy more aggressively in the coming months," Tuvey said.
Analysts also pointed to trading volumes being fairly thin during the day and expected a quiet session ahead of the U.S. Thanksgiving holiday on Thursday.
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For RUSSIAN market report, see (Reporting by Shreyashi Sanyal in Bengaluru; Editing by David Clarke)