*

EM stocks up 0.7%, FX flat

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Turkey economy grew 4.8% in Q2, beating expectations

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S.Korea stocks fall as US makes hinders chip production in

China

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Chinese equities jump after Alibaba ( BABA ) reports upbeat

AI-growth

By Pranav Kashyap

Aug 21 (Reuters) - Most emerging market assets were

mixed on Monday as investors navigated a flood of new economic

data, and eyed the latest moves out of Southeast Asia's two

largest economies.

Indonesian assets, clawed back early losses

as upbeat trade data provided some interim support, though bonds

stayed under pressure.

Even so, anxiety over prolonged instability persisted as

hundreds of students gathered in cities nationwide Monday,

undeterred by possible reprisals after weekend riots tied to

election-law changes left eight dead-the worst in over 20 years.

In Thailand, the baht was little changed, while

stocks gained 0.5%, but was still down more than 11% for

the year.

The country's political crisis deepened after the

Constitutional Court dismissed Prime Minister Paetongtarn

Shinawatra on Friday for ethics violations.

On the macro-front, a gauge tracking emerging market stocks

rose 0.7% after four straight sessions of declines,

its longest losing streak in nearly eight months.

However, a similar gauge for currencies was

flat.

Globally, investors kicked off September with a pulse-check

on emerging economies and on manufacturing and services across

regions.

The Turkish lira stayed stuck in a 0%-0.1% band as

traders parsed stronger-than-expected second-quarter growth of

4.8% even after prolonged tightening, while Istanbul stocks

held steady.

"The much-stronger-than-expected Q2 Turkish GDP growth

figure (driven by domestic demand) is likely to make the central

bank tread cautiously and suggests that the risks to our hawkish

interest rate forecast lie to the upside," said William Jackson,

chief emerging markets economist at Capital Economics.

Across central and emerging Europe, August PMIs rolled in.

Hungary's factory activity shrank, Poland's contraction

deepened, and the Czech downturn extended.

Still, Warsaw and Budapest stocks were set

to break out of a three-session losing streak, rising 0.4% and

0.6% respectively.

The forint gained 0.4% against the euro, the zloty

was flat and the koruna inched up 0.1%.

Meanwhile, the Russian rouble fell 1% against the

dollar and was set for its worst day in nearly a month.

Activity across the country's manufacturing sector declined

for the third month running in August.

After Washington ramped up tariff pressure on India over New

Delhi's continued Russian oil imports, Prime Minister Narendra

Modi told Russian President Vladimir Putin that the two

countries stood shoulder to shoulder, even in tough times.

Separately, India's manufacturing surged at its fastest pace

in more than 17 years in August. Stocks in Mumbai

rose 0.6%, while the rupee hovered near record

lows.

"Indian refiners seem determined to continue buying Russian

crude despite U.S. tariffs aimed at penalising the nation," said

Dr Mike Haigh, head of FIC and commodity research at Societe

Generale.

Meanwhile, investor confidence in Chinese stocks continued

to rise, with Shanghai stocks flirting with fresh

10-year highs. Shares in Hong Kong jumped 2%, driven by

Alibaba ( BABA ) after the e-commerce company reported

strong AI-driven growth.

South Korean equities fell 1.3%, led by slides in

Samsung and SK Hynix ( HXSCF ) after Washington

revoked authorisations that allowed them to secure U.S.

semiconductor manufacturing equipment for their chip plants in

China.

For TOP NEWS across emerging markets,

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see