EMERGING MARKETS-Asian equities climb; currencies steady ahead of U.S.-China trade talks

By Roshan Thomas

June 9 (Reuters) - Emerging Asian equities rose on Monday ahead of key U.S.-China trade talks in London, while regional currencies edged up as the dollar weakened.

Top U.S. and Chinese trade officials will meet for a second round of talks, days after Presidents Trump and Xi held their first post-inauguration call to address escalating trade tensions.

"Even though it is too early to say whether or not both sides can reach some form of an agreement, the fact that the talks reduce the likelihood of near term escalation is seen as a positive," said Khoon Goh, head of Asia research at ANZ.

MSCI's gauge of Asian emerging market equities .MIMS00000PUS rose as much as 1% to its highest level since October 8, 2024.

Taiwan stocks .TWII rose 0.6% and Philippine shares .PSI added 0.5%. Chinese stocks .SSEC gained 0.4%.

South Korean shares .KS11 climbed 1.6%, supported by post-election policy optimism under newly elected President Lee Jae-myung. The benchmark index had gained 4% last week.

A positive session on Wall Street on Friday, driven by better-than-expected U.S. jobs data, helped ease concerns over a potential U.S. recession and is lifting investor confidence today, Goh added.

Data showed that nonfarm payrolls increased by 139,000 jobs last month fewer, than the 147,000 jobs added in April but exceeding the 130,000 gain forecast in a Reuters poll of economists.

Regional currencies were marginally higher, with the Singapore dollar SGD= rising 0.3% and the Malaysian ringgit MYR= falling 0.2%.

The dollar USD= slipped 0.2%, retracing part of the 0.5% gain it posted on Friday, as initial enthusiasm over a strong U.S. employment report gave way to caution ahead of key U.S.-China trade talks.

Analysts at Nomura expect markets to remain choppy and range-bound through summer amid ongoing tariff uncertainties.

"Market attention remains fixated on the expiration of the 90-day pause on tariffs (subject to court rulings)."

Markets in Indonesia were closed for a public holiday.

HIGHLIGHTS:

South Korea president calls for measures to respond to rising prices

China's May exports slow, deflation deepens as tariffs bite