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South Korean stocks hit record high, Taiwan flat

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Analyst flags risks of missteps in US-China equation

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Hungary to seek exemptions from Russia oil sanctions

By Niket Nishant

Oct 30 (Reuters) - Emerging market stocks eased off

four-year highs and currencies looked set to snap a three-day

winning streak on Thursday, with the moves uneven across regions

as investors digested the outcome of the highly anticipated

Trump-Xi meeting.

MSCI's equities index for the region fell 0.3%.

Its currencies gauge also slipped 0.3% after

three consecutive days of gains.

Emerging market investors are confronting diverse challenges

as they evaluate the region's appeal, weighing long-term

tailwinds against near-term uncertainty.

"Progress in U.S.-China trade talks today marks an

undeniably positive step toward temporarily stabilising a

structurally fractious relationship," said Louise Loo, head of

Asia economics at Oxford Economics.

"However, the detente is fragile given the high risk of

policy missteps and mutual misreadings."

MARKETS DIVERGE

South Korean shares notched a record closing high

after Washington and Seoul finalised a trade deal. Taiwan's

equity benchmark closed flat after surging to a record

high earlier in the session.

U.S. President Donald Trump said the issue of Taiwan did not

come up in his talks with Chinese President Xi Jinping. Concerns

have lingered in Taipei over Trump's vacillating stance on the

island, which Beijing claims as its own territory.

Elsewhere, Tel Aviv stocks dipped 0.3% and the

shekel was marginally higher. On Wednesday, Israel said

it remains committed to the U.S.-backed ceasefire despite its

retaliation for the death of an Israeli soldier with a day-long

bombardment in Gaza.

Saudi Arabian equities continued their climb for the fourth

consecutive day, rising 0.2% and hitting their highest since

April despite an easing in oil prices.

The kingdom's economy grew 5% in the third quarter from a

year earlier, flash government estimates released on Thursday

showed.

In Jamaica, some bonds steadied a day after a drop due to

the damage from Hurricane Melissa, the strongest hurricane on

record to directly hit the island.

Meanwhile, the S&P Global upgraded Mongolia's sovereign

credit rating, citing sustained fiscal consolidation and strong

economic growth even as coal exports decline.

HUNGARY TO SEEK WAIVER

In Europe, Hungarian equities were flat. The country

will seek exemptions from U.S. sanctions on Russian oil, Prime

Minister Viktor Orban's chief of staff told a briefing on

Thursday. Orban is expected to meet Trump in Washington next

month.

Data showed Hungary's GDP grew at a slower-than-expected

pace of 0.6% year-over-year. The forint weakened 0.2%

against the euro.

The Czech economy, on the other hand, outpaced expectations

in the third quarter. Stocks inched up 0.4% while the

Czech crown was flat compared to the euro.