* EM stocks follow through on rise in Chinese equities
* Russian rouble pressured by central bank FX buying plan
* South African stocks led higher by Naspers
By Aaron Saldanha
Jan 25 (Reuters) - Emerging-market stocks gained on Friday, picking up on a trend set earlier by Asian and U.S. share, and currencies touched their highest in more than a week against the dollar.
The onshore Chinese yuan CNY=CFXS gained against as the dollar weakened when investors moved into other currencies. CNY/ FRX/
"People are taking comfort from the positive sentiment around China - it is supporting markets" said Jakob Christensen, chief analyst and head of EM research at Danske Bank. U.S.-China trade talks would drive emerging markets next week, he said.
Developing-world assets are set to round off a strong week, with gains in stocks, currencies and bonds.
The yield spread between emerging-market hard-currency debt and U.S. Treasuries shrank to its narrowest since Nov. 9 this week. The sovereign spread on the JPMorgan (NYSE: JPM ) EMBI Global Diversified index .JPMEGDR fell to 361 basis points on Thursday.
A surprise leadership challenge to Venezuelan President Nicolas Maduro has spurred activity by investors and traders in the oil-rich nation's vast pool of defaulted bonds. emerging Europe, Romania's leu EURRON= strengthened against the euro. CEE/ Hungary's forint EURHUF= and the Czech crown EURCZK= gained at least 0.1 percent against the common currency and 0.2 percent against the dollar. HUF= CZK=
The currencies rose after European Central Bank President Mario Draghi "kind of toned down the possibility of a rate hike this year" on Thursday, weakening the euro, Danske Bank's Christensen said.
However, the Russian rouble RUB= fell when the central bank said it would begin its foreign-currency purchases on Feb. 1. Africa's rand ZAR= rose 0.1 percent on improved risk sentiment, while local stocks .JTOPI rose 1 percent with Naspers Ltd NPNJn.J rising 1.6 percent. rose after a 4.1 percent gain by Chinese internet giant Tencent Holdings Ltd 0700.HK , of which it holds about 31.1 percent, according to Refinitiv Eikon data.
For TOP NEWS across emerging markets CENTRAL EUROPE market report, see CEE/
For TURKISH market report, see .IS
For RUSSIAN market report, see RU/RUB
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