* MSCI EM stocks down 0.1%, FX flat

* KOSPI logs losses for seventh straight week

* Hungary July inflation softer-than-expected

By Utkarsh Hathi

August 7 (Reuters) - Emerging-market stocks and currencies

were steady on Friday ahead of U.S. jobs data, while oil prices

gained with investors looking ahead to the outcome of Iran-Oman

talks on reopening the Strait of Hormuz.

MSCI's index tracking global EM equities edged

0.07% lower, and looked set for weekly losses as Asian

chipmakers remained under pressure, while its currencies

equivalent was muted.

Investors are awaiting U.S. non-farm payrolls data later in

the day for fresh clues on the Federal Reserve's monetary policy

path. Analysts at Bank of America Global Research expect a

healthy jobs report, which, combined with persistently sticky

inflation, could lower the bar for a September rate hike.

The region's heavy exposure to Asian semiconductor stocks

has left equities at the mercy of fragile sentiment around the

AI trade, as sharp swings in chipmakers triggered by leveraged

positioning and concerns over AI spending have offset the impact

of easing oil prices.

South Korea's KOSPI slipped 0.6%, and slid for the

seventh consecutive week, shedding more than a third of its

value in the period.

Taiwan's tech-heavy benchmark edged 0.4% lower on

Friday, while Chinese stocks rose 0.9%.

Meanwhile, oil prices rose 0.5% after Iran suggested banning

vessels deemed hostile from the Strait of Hormuz and fining

those violating the proposed rules. Crude prices, however,

remain more than 10% below levels seen two weeks ago amid hopes

for a diplomatic resolution to the conflict.

Bucking the broader trend, MSCI's index tracking Central and

Eastern European stocks was heading for weekly

gains.

Hungary's benchmark gained 0.7%, while the forint

eased 0.8% after softer inflation data that reinforced

expectations for rate cuts.

Lower inflation and the Tisza party's election victory

earlier this year have provided a boost for Hungarian assets,

though concerns about an energy crisis caused by record-low

water levels on the Danube river threaten the country's

industrial recovery.

"We expect industrial activity to be significantly affected

by production cuts stemming from the energy crisis. We expect to

see negative figures as early as late July, but even more so in

the August data," said Peter Virovacz, chief economist at ING.

Polish stocks slipped 0.5%, while Romanian benchmark

lost 0.4%.

Among currencies, Asian peers traded flat to higher.

South Africa's rand traded 0.4% higher, while its

equities benchmark rose 1%, tracking higher precious

metal prices and was heading for its biggest weekly gain in more

than a year.

The Turkish lira edged 0.2% lower.

Separately, rating agency Moody's will review Romania's

credit rating later in the day.

HIGHLIGHTS:

** AI demand keeps China's export engine humming, but risks loom

** Indian central bank likely intervenes to shield rupee from

oil jump, traders say

** Congo bans copper and cobalt concentrates exports, official

order says

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see