* China Aug factory deflation deepens
* Shanghai stocks snap 6-day winning streak
* Hungary's forint slips after Aug inflation data
* Indian markets shut for holiday
Sept 10 (Reuters) - Emerging market stocks took a breather on Tuesday after four sessions of gains as investors stayed on the sidelines ahead of key central bank meetings this week, while China's weak factory-gate prices further curbed appetite for riskier assets.
MSCI's emerging market stocks index moved marginally lower with indexes in Johannesburg and Moscow leading declines.
China's producer prices fell by the most in three years in August, reinforcing expectations Beijing will roll out more economic stimulus as its trade war with Washington intensifies.
"The markets are clinging to the hope that China will deliver further stimulus on the fiscal side which will benefit neighbouring countries," Jakob Christensen, chief analyst and head of EM research at Danske Bank, said.
Asian indexes also racked up losses with Taiwan and the Philippines shedding 0.4% each, while mainland China stocks ended softer but off their lows.
South Korea's KOSPI bucked the trend, closing 0.6% higher helped by shares of construction firms with exposure to North Korea as Pyongyang said it was willing to restart talks with the United States.
Indian markets remained shut for a public holiday.
Developing world currencies were mixed against a firmer dollar with investors banking on monetary stimulus from the European Central Bank at its policy review on Thursday. Central bank meetings in Turkey and Poland are also on investors' radar.
The trade-sensitive Chinese yuan and South Korean won moved 0.2% higher.
South Africa's rand firmed 0.3% ahead of manufacturing data due at 1100 GMT that will give investors fresh clues about the health of the most industrialised African economy.
The Turkish lira fell 0.4%, extending losses from the previous session.
U.S. Treasury Secretary Steven Mnuchin had said on Monday the Trump administration was considering imposing sanctions on Ankara related to its purchase of Russia's S-400 air defence missile system.
In emerging Europe, the Hungarian forint moved 0.2% lower against the euro as its headline inflation and core inflation came in below market expectations.
"The economy has probably peaked and given the difficult external environment, notably the German economy which Hungary is rather dependant on, the inflation numbers support the dovish tone that we have seen from the central bank," Christensen said.
Other central European currencies, including the Czech crown and Polish zloty, were largely flat.
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For RUSSIAN market report, see (Reporting by Medha Singh and Agamoni Ghosh in Bengaluru Editing by Jacqueline Wong)