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EMERGING MARKETS-Turkish, S.Africa stocks rise; Czech crown falls

LONDON, Oct 11 (Reuters) - Turkish stocks hit 17-month highs on Thursday, shrugging off an escalating conflict with Syria as data showed an improving current account picture while the Czech crown lost 0.3 percent after comments by the central bank governor.

South African assets gained as more truckers returned to work after weeks of strikes.

Turkish stocks jumped , the lira gained 0.3 percent and bond yields slipped 20 basis points

after

data showed the current account deficit narrowing significantly, stoking expectations of a rating upgrade.

.

"The ratings agencies have argued that an upgrade depends on evidence of an improving (current account deficit) position - well now it's improving," said Timothy Ash, head of emerging markets research at Standard Bank.

The Czech crown fell 0.25 percent

after central bank governor Miroslav Singer was quoted as saying the bank is ready to intervene to weaken the currency if it feels there is a risk of long-term deflation pressure

.

The comments come a day after dovish remarks from Poland's prime minister and central bankers hit the zloty.

"We are seeing more and more verbal intervention. What's interesting is that you have more emerging currencies getting polluted by these kinds of comments," said Guillaume Salomon, emerging market strategist at Societe Generale, citing the zloty, rand and the crown as examples.

South African stocks rose a quarter of a percent and the rand jumped 1.15 percent to the dollar

, lifting it to a three-day high as hopes grew that the strikes could soon end.

The rand hit a 3-1/2 year low hit earlier this week on fears the labour unrest would seriously derail growth and investment.

Broader emerging markets were flat

weighed down by a 0.8 percent loss in China and continued worries over Spain which was downgraded by S&P to BBB-, a notch above junk.

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For GRAPHIC on MSCI emerging index performance 2012, see

For GRAPHIC on MSCI emerging Europe performance 2012, see

For GRAPHIC on MSCI frontier index performance 2012, see

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see

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(Reporting by Shadia Nasralla; editing by Patrick Graham)

((shadia.nasralla@thomsonreuters.com)(+44)(0)(207 542 5213)(Reuters Messenger: shadia.nasralla.reuters.com@reuters.net))

((Emerging Markets Prices from Reuters

Equities Latest Net Chg % Chg % Chg on year Morgan Stanley Emrg Mkt Indx

992.95 +0.86 +0.09 +8.35

Poland

2399.39 +7.06 +0.30 +11.89

Hungary

19068.62 +119.88 +0.63 +12.34

Romania

4744.33 -65.00 -1.35 +9.39

Russia

1484.55 +0.71 +0.05 +3.51

South Africa

32126.52 +118.38 +0.37 +12.84 Turkey 69014.08 +556.50 +0.81 +34.62 China 2102.87 -17.07 -0.81 -4.39 India 18801.94 +170.84 +0.92 +21.66 Currencies Latest Prev Local Local close currency currency % change % change in 2012 Czech Rep 24.95 24.91 -0.18 +2.37 Poland 4.10 4.09 -0.02 +9.01 Hungary 282.25 282.58 +0.12 +11.46 Romania 4.57 4.56 -0.13 -5.37 Serbia 114.10 113.86 -0.21 -6.27 Russia 31.12 31.11 -0.03 +3.44

Kazakhstan

150.49 150.53 +0.03 -1.35 Ukraine 8.13 8.13 +0.00 -1.67

South Africa

8.67 8.73 +0.68 -6.95 Kenya 85.15 85.20 +0.06 -0.23 Israel 3.86 3.86 +0.09 -1.22 Turkey 1.81 1.82 +0.48 +4.15 China 6.28 6.28 +0.11 +0.28 India 52.76 53.01 +0.48 +0.48 Brazil 2.04 2.04 -0.01 -8.79 Mexico 12.92 12.97 +0.40 +7.97 Debt Index Strip Spd Chg %Rtn Index Sov'gn Debt EMBI+ 273 -1 0.03 692.23

Currency percent change calculated from the daily U.S.

close at 2130 GMT.)) Keywords: MARKETS EMERGING

Symbol
Price
 
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MSCI
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