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EMERGING MARKETS-Stocks dip on growth worries, rand falls

LONDON, Oct 3 (Reuters) - Emerging stocks dipped on Wednesday and the commodity-focused rand hit four-week lows after weak Chinese and Australian data raised global growth concerns.

China's official services PMI slowed to 53.7 percent in September from 56.3 in August, highlighting the economy's seventh straight quarter of slowdown, while Australia posted weak export data. Chinese markets were closed for holidays.

Export-led emerging markets are heavily dependent on growth in China. Benchmark emerging equities eased 0.1 percent. Russian stocks lost as much as one percent as Brent crude futures

slipped below $111 per barrel.

The rand

weakened to four-week lows amid broad falls in commodity currencies and after Reserve Bank Governor Gill Marcus said this week that current levels of foreign flows into South Africa's bond market were not sustainable.

"All of a sudden a series of bad news is there," said Gaelle Blanchard, emerging FX strategist at SocGen.

"We have the Moody's downgrade which had a bit of a negative impact on the currency and we have all this unrest in the mining sector."

Moody's cut South Africa's rating to Baa1 from A3 last week, while wildcat mining strikes spread to the iron ore sector on Wednesday.

Poland's zloty steadied against the euro

ahead of a rate decision which analysts polled by Reuters expect will bring interest rates down 25 basis points to 4.5 percent.

Kazakh sovereign wealth fund-owned BTA bank's defaulted $2.1 billion bond jumped about 10 cents on the dollar to more than 35 cents after the bank agreed preliminary restructuring terms with creditors, banking and broking sources said.

The wealth fund took a majority stake in BTA after a previous restructuring but did not guarantee the bank's debt.

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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 Carolyn Cohn and Shadia Nasralla; editing by Stephen Nisbet)

((carolyn.cohn@reuters.com)(Reuters Messaging carolyn.cohn.thomsonreuters.com@reuters.net)(+44 207 542 6320))

((Emerging Markets Prices from Reuters

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

1005.24 -0.99 -0.10 +9.70

Poland

2398.27 -1.02 -0.04 +11.83

Hungary

18849.27 +106.37 +0.57 +11.05

Romania

4733.55 -34.76 -0.73 +9.14

Russia

1503.61 -4.16 -0.28 +4.84

South Africa

31989.08 -31.47 -0.10 +12.36 Turkey 67724.42 +226.22 +0.34 +32.10 China 2086.17 +29.85 +1.45 -5.15 India 18869.69 +45.78 +0.24 +22.10 Currencies Latest Prev Local Local close currency currency % change % change in 2012 Czech Rep 24.98 25.08 +0.38 +2.26 Poland 4.11 4.11 -0.17 +8.54 Hungary 285.74 285.80 +0.02 +10.10 Romania 4.53 4.52 -0.29 -4.68 Serbia 115.32 115.39 +0.06 -7.26 Russia 31.12 31.20 +0.25 +3.47

Kazakhstan

150.20 150.04 -0.11 -1.16 Ukraine 8.15 8.15 -0.01 -1.88

South Africa

8.43 8.36 -0.85 -4.31 Kenya 84.95 85.10 +0.18 +0.00 Israel 3.86 3.91 +1.09 -1.46 Turkey 1.79 1.79 -0.09 +5.18 China 6.28 6.28 +0.00 +0.16 India 52.22 52.37 +0.29 +1.51 Brazil 2.03 2.03 -0.02 -8.08 Mexico 12.87 12.83 -0.32 +8.39 Debt Index Strip Spd Chg %Rtn Index Sov'gn Debt EMBI+ 277 -3 0.08 692.75

Currency percent change calculated from the daily U.S.

close at 2130 GMT.)) Keywords: MARKETS EMERGING