By Twesha Dikshit

Nov 25 (Reuters) - Most emerging market equities and

currencies edged higher on Tuesday, helped by expectations of a

potential U.S. interest rate cut in December, while Ukraine's

international bonds benefited from renewed efforts toward peace

talks.

The move comes at a time when jittery markets are eager

to latch onto any catalyst to push higher, especially after the

region's indexes suffered their worst week in months.

U.S. and Ukrainian officials said they had drafted a

"refined peace framework" following talks in Geneva on Sunday,

after agreeing to modify a U.S. proposal that Kyiv and its

European allies saw as a Kremlin wish list.

Markets were positive about the development, with Ukraine's

international bonds extending gains from the previous session.

The zero-coupon 2035 bond was up 0.46 cents, bidding at 57.7

cents on the dollar.

Ukraine's President Volodymyr Zelenskiy could visit the U.S.

in the next few days to finalise a deal that would end Ukraine's

war with Russia, Kyiv's security chief said on Tuesday.

Meanwhile, Federal Reserve Governor Christopher Waller said

on Monday the labour market was soft enough to justify a

25-basis-point rate lowering in December, adding to the upbeat

sentiment.

His remarks followed New York Fed President John Williams on

Friday, who also said interest rates were likely to decline "in

the near term."

"The increased probability of a Fed rate cut next month

helped to boost risk appetite. But this may not be sufficient to

lift global equities to fresh all-time highs before the

year-end," said David Morrison, senior market analyst at Trade

Nation.

Investor are currently pricing in an 81% chance of a rate

cut next month, up from last month's 40%, according to the CME

FedWatch Tool.

MSCI's indexes tracking global emerging market stocks

gained 0.6%, while the currency gauge

was up 0.1%. The indexes had logged their steepest weekly

declines since April and July, respectively, amid a sharp global

risk asset sell-off.

Romanian radar systems were no longer detecting signals of

drones breaching national airspace, following detections of a

drone signal earlier in the day. The benchmark stock index

was up 0.7%.

Poland's WIG20 rose 0.6%, while Hungarian Budapest

SE Index added 0.4%. Poland's retail sales posted a

growth of 5.4% year-on-year for October, much higher than

expectations.

Czech central bank's Vice-Governor Jan Frait said at a

university debate that interest rate setting was adequate for

the current state of the economy and outlook for the next two

years.

The bank has kept its main repo rate at 3.5% since May. The

Czech Koruna was up 0.2% against the dollar, while the

benchmark index added 0.3%.

In Asia, most emerging markets stocks were higher, with

Taiwan and Thailand leading gains. Taiwan's benchmark

gained 1.5% and Thailand equities rose 1.3%.

HIGHLIGHTS:

** Global ambitions behind yuan's steady rise

** South Korea ruling party to propose bill for US

investment under tariff deal, report says

** Slow China bull market forces IPO pivot

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