* All eyes on Sino-U.S. trade talks
* Dollar strength keeps currencies pressured
* Russian rouble give up gains logged on Moody's upgrade
By Susan Mathew
Feb 11 (Reuters) - A move higher in major Asian markets as they returned from the Lunar New Year holiday propped up emerging-market shares on Monday, with China stocks in the lead as new U.S.-China trade talks began before higher-level talks later in the week.
"It a delayed reaction to the gains we had in the U.S. equities for the last couple of weeks," said Koon Chow, an emerging-market macro and FX strategist with UBP, pointing also to some local expectation from the U.S.-China trade talks.
A new round of trade talks began in Beijing on Monday, with markets awaiting talks led by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin later this week. MKTS/GLOB
They comes after U.S. President Donald Trump said he would not meet with his Chinese counterpart before the March 1 deadline set by the two countries to resolve the trade dispute.
"The market is expecting the deadline to be extended so people are not prepared to be too negative at this point," said Steven Leung, director of sales at UOB Kay Hian in Hong Kong.
Some other markets fell, however, capping the gains in MSCI's index of emerging market shares .MSCIEF . Worries over global growth persist as investors await the outcome of the trade talks.
With the dollar eyeing an eight straight session of gains, currencies of developing world economies weakened.
The Chinese yuan CNY= was the biggest mover, down half a percent with all eyes on trade talks.
"If the upcoming high-level trade negotiation fails to reach some practical agreements and save some time for a Trump-Xi meeting, risk-averse market sentiment will continue ... And it will boost the dollar, especially USD/RMB," said Stephen Chiu, FX and rates strategist at China Construction Bank (Asia) in Hong Kong.
The Turkish lira TRY= weakened 0.3 percent. Oil exporter Russia's rouble RUB= tracked crude prices lower. The rouble had gained earlier after ratings agency Moody's raised the country's sovereign rating to investment grade. O/R Eastern European economies, Romanian shares .BETI fell for the first time in seven sessions. Most currencies in the region barely moved against a weaker euro.
For GRAPHIC on emerging market FX performance 2018, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance 2018, see https://tmsnrt.rs/2OusNdX
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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