(Updates at 0900 GMT)

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Turkish lira weakens to 34 per dollar

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Markets focus on Fed chair's speech at 1400 GMT

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China meets industry groups over EU's EV tariffs

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Stocks down 0.1%, FX flat

By Shubham Batra

Aug 23 (Reuters) - Emerging market currencies were

subdued on Friday as investors stayed on the sidelines and

waited for a crucial speech by the U.S. Federal Reserve Chair

Jerome Powell later in the day, while regional stocks edged

lower.

MSCI's gauge for emerging market currencies

was flat, with focus firmly on Powell's address at the Jackson

Hole symposium at 1400 GMT, which will likely provide strong

clues on the extent and timing of U.S. rate cuts.

Investors expect the U.S. central bank to cut interest rates

by 25 basis points in September and emerging market currencies

will be highly sensitive to any monetary policy signals by

Powell.

The Turkish lira dropped to a record low of less

than 34 per dollar, with markets watching for July foreign

arrivals data that will shed light on the country's prospects

for economic stability and growth.

The South African rand advanced 0.5% against a softer

U.S. dollar ahead of Powell's speech.

Most currencies in the central and eastern Europe (CEE) were

higher against the euro, with the Hungarian forint

inching up 0.1% after unemployment in the country fell

marginally to 4.2% in the quarter ended in July compared with

4.3% in the April-June quarter.

"CEE is outperforming the emerging market space, and given

the rather dovish market expectations in the region ... CEE

currencies should be supported and maintain at least current

levels, with more gains later," said Frantisek Taborsky, EMEA FX

strategist at ING.

The MSCI's guage for regional stocks was down

0.1%, dragged lower by the losses of index heavyweights

including Taiwan Semiconductor and Tencent Holdings ( TCTZF )

.

China stocks gained on Friday, ending a run of

three consecutive session of losses, after the Commerce Ministry

met automakers and industry associations to discuss raising

import tariffs on large-engined gasoline vehicles. That would

sound a warning to the European Union as it nears a tariff

decision on Chinese electric cars.

Shares of South African gold mining company Gold Fields

sank more than 5% after it cut its annual output

forecast for the second time this year following a harsh winter

in Chile that hobbled a planned output ramp up at a new mine.

In Argentina, President Javier Milei will veto a pension

reform passed on Thursday by the Senate in a move that is likely

to widen an ongoing rift between the libertarian leader and the

opposition-controlled Congress.

For TOP NEWS across emerging markets

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For TURKISH market report, see

For RUSSIAN market report, see