* MSCI downgrades Turkey's information flow measure to

negative

* South Korean shares ease from record highs

* Russian central bank meeting awaited

* Indian assets poised to break five-day winning streak

By Avinash P

June 19 (Reuters) - Emerging market stocks and currencies

fell on Friday as a risk-off mood swept global markets after

talks to end the Middle East conflict stalled, while MSCI

flagged fresh concerns about Indonesia's investment appeal.

Switzerland said U.S. talks with Iranian negotiators on a

pact to end their conflict would not take place on Friday after

Vice President JD Vance cancelled plans to travel there, adding

to doubts over whether a lasting truce can be reached.

"The bottom line is a lot of positive news has been priced

in over the past few days. When we had positive news on the

(interim peace) deal, markets were going up by 2% and when we

had negative news, it was only going down by 0.5%-1%. So at the

end, the trend has been going higher and higher," said Guillaume

Tresca, global EM strategist at Generali Asset Management.

"We should continue to see some kind of profit-taking in the

next few days."

INDONESIA, TURKEY CONCERNS

MSCI's index tracking EM stocks was down 0.3%, but

was still on course for a weekly gain after earlier optimism

over U.S.-Iranian peace prospects.

Indonesia's stocks reversed earlier declines to

trade 0.2% higher, while the rupiah slipped 0.4% against

the dollar.

MSCI raised new concerns about Indonesia's accessibility for

investors, citing limited visibility on shareholdings and

coordinated trading behaviour, ahead of its review of the

country's emerging market status next week.

The warning adds to pressure on Indonesian assets, which

have been hit hard this year, leaving its stock market and the

currency the worst performers among major economies.

South Korea's shares hit fresh record highs earlier

on Friday before ending 0.1% lower. The won gained

0.7%.

Indian equities fell more than 0.7%, while

the rupee was flat. Both were on track to break

five-day winning streaks.

MSCI's EM currency gauge dipped 0.2% and was

headed for a small weekly loss. A hawkish tilt from U.S.

policymakers lifted expectations for a Federal Reserve rate

hike, while uncertainty over U.S.-Iran talks pushed the dollar

to a more than one-year high, weighing on EM currencies.

Turkey's stocks dropped 0.6%, while the lira

remained subdued.

MSCI also reiterated concerns over investability in Turkey

and downgraded its information flow measure to "negative",

pointing to limited transparency in shareholding structures and

coordinated trading behaviour that undermines price formation.

South Africa's rand was off 0.2%, and the stocks

benchmark fell 1%, with lower gold prices adding to the

pressure.

Currencies in central Europe were subdued against the euro,

while stocks were mixed.

Hungarian and Polish stocks declined 0.1% and

0.2%, respectively, while Romania's benchmark gained

0.5%.

Investors were also awaiting Russia's central bank policy

meeting later in the day.

Markets in the U.S., China and Taiwan were shut for a

holiday.

HIGHLIGHTS:

** Fujimori edges toward Peruvian presidency as Sanchez

calls for protests

** Flows, underlying sentiment cushion Indian rupee against

Fed-spurred dollar rally

** Malaysia's May exports rise 45.3% y/y, above forecast

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see

(Reporting by Avinash P in Bengaluru)