* Hungary's new government pledges reforms, focus on

fiscal changes and EU relations

* Pakistani assets surge after Saudi Arabia pledges $3

billion in financial support

* Russia ready to help China with energy ahead of Putin's

visit, foreign minister says

* India makes it easier for firms to cut IPO size after

Iran war hits sentiment, report says

By Johann M Cherian

April 15 (Reuters) - Most emerging markets rose on

Wednesday as investors pinned their hopes on the likelihood that

Iran and the U.S. would resume talks to end the Middle East

conflict, while Pakistani assets surged as Saudi Arabia pledged

financial support.

MSCI's index tracking stocks rose 1.2% and was at

its highest in over a month, while a currencies gauge

edged up 0.1% as the U.S. dollar neared six-week

lows.

Crude prices were steady at $95 a barrel, reflecting broader

caution as the U.S. military halted sea trade in and out of

Iran, drawing threats from Tehran.

Investors were also monitoring developments in Hungary after

the centre-right TISZA party of Peter Magyar won a landslide

victory in general elections over the weekend.

Magyar said that he would restore media freedoms after his

cabinet takes power and will speak with oil company MOL

to ensure fuel security against the backdrop of the

Mideast conflict.

Hungary's local stocks index added 0.7% and has

gained over 15% this month as traders priced in the change in

government ahead of elections. The forint slipped 0.1%

against the euro, but is set for a monthly gain of 5.5% - its

biggest since 2012. Hard-currency bonds

have also seen stellar gains.

The focus will now be on if and how soon the new government

can implement fiscal reforms.

"There is certainly room for achieving cost savings from

reforming public procurement practices, but this will only

materialise in the medium term," said Yesenn El-Radhi, senior

vice president of global sovereign ratings at Morningstar DBRS.

Moody's said the country's improved relationship with the EU

could be a credit positive, while S&P Global said the unlocking

of EU funding could begin although fiscal pressures are likely

to persist. The latter ratings agency has issued Hungary a BBB-

rating, a notch above junk status.

PAKISTANI ASSETS JUMP ON SAUDI SUPPORT

Pakistani stocks jumped 2.7% to their highest since

February 23 and its international bonds

gained nearly 1 cent on the dollar as Saudi

Arabia said it will provide $3 billion in additional support to

help it bridge a multi-billion-dollar gap in its finances linked

to an upcoming debt repayment to the United Arab Emirates.

Pakistan deployed fighter jets and support aircraft to Saudi

Arabia during the Iran conflict, and Islamabad has been hosting

talks between Tehran and Washington.

With oil prices hovering near $100 a barrel, global concerns

over energy security and growth continue to dominate.

The International Monetary Fund slashed its growth forecasts

for developing economies earlier this week, though Managing

Director Kristalina Georgieva said the global economy can still

recover rapidly from the shock if the conflict ends in the next

weeks.

Meanwhile, reports said Russia is ready to increase energy

supplies to China ahead of an expected visit by President

Vladimir Putin.

The off-shore yuan slipped 0.1%, while Russia's

rouble was up 0.2% and has gained over 8% this month,

tracking higher energy prices.

Elsewhere, Reuters reported that India's markets regulator

will allow companies to cut the size of IPOs by as much as 50%

without filing additional onerous paperwork as the Iran war has

made it hard to follow through with initial plans. Stocks

were up 1.6% each.