* Poland may leave rates unchanged until March 2027,

policymakers say

* Chinese retail sales fell for the first time in three

years

* Shipping firms warn Hormuz confidence may take weeks to

recover

By Avinash P and Ragini Mathur

June 16 (Reuters) - Most emerging markets stocks inched

higher, while currencies were muted on Tuesday as investors

leaned towards caution over the lack of details around a

U.S.-Iran interim peace deal.

Shipping firms illustrated the scepticism, warning that it could

take weeks for confidence to recover even if the Strait of

Hormuz reopened.

The caution tempered the previous session's relief rally,

when global markets advanced on hopes that a peace agreement

would ease inflation concerns linked to higher energy prices and

reduce pressure on the global growth and interest-rate outlook.

"This memorandum of understanding just seems to be going

ahead. But there are so many things to be concerned about,

because this is only going to be a first step in a much longer

negotiation," said David Morrison, senior market analyst at

Trade Nation.

MSCI's global EM stock index rose 0.9% after

rallying nearly 6% in the previous two sessions.

Tech-loaded index heavyweights South Korea's KOSPI rose

2.1% and its Taiwanese peer gained 0.9% on Tuesday.

AI-driven momentum in both markets helped the broader MSCI stock

index climb to record highs, even as concerns over the war

persisted.

The currencies gauge was flat after two

sessions of gains.

Chinese assets traded lower after data showed the economy became

increasingly uneven in May. Retail sales fell for the first time

in more than three years, and investment slumped, even as

industrial output picked up pace.

Local stocks were off 0.1% and 0.2%,

respectively, while the yuan was muted after scaling

to a multi-year peak on Monday.

South Korea's won appreciated 0.5%, while the

Indian rupee firmed against the U.S. dollar.

Turkish stocks edged higher 0.4%, while the lira

was unchanged.

Across emerging Europe, currencies were mostly subdued

against the euro.

Poland's zloty firmed, while Warsaw shares

rose 1.4%.

Poland's Monetary Policy Council is unlikely to change interest

rates until end of this year, and maybe even until March 2027,

when base effects will bring the annual inflation rate down,

rate setter Ludwik Kotecki said.

The country's monetary authority had kept interest rates on hold

at 3.75% for a third straight meeting, earlier in June.

Equities in Budapest gained 0.4% while Bucharest

stocks fell 0.1%.

South African markets were closed for a holiday.

HIGHLIGHTS:

** Philippine central bank to raise rates to 4.75% on Thursday

** World Bank cuts Myanmar growth forecast as fuel shock deepens

economic strains

** Ukraine aims to align banks, insurers with EU rules by 2028,

central banker says

For TOP NEWS across emerging markets

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