Prices as of 0910 GMT

By Shashwat Chauhan

Nov 18 (Reuters) -A gauge of emerging market stocks rose on Monday, lifted by rising heavyweight Asian markets, while currencies were mixed at the start of a week packed with monetary policy decisions globally.

MSCI's index for emerging market stocks .MSCIEF gained 0.2% as of 0910 GMT, with shares in South Korea .KS11 outperforming with a more than 2% jump.

The Korean bourse surged as Samsung Electronics 005930.KS advanced 6% on plans to buy back shares worth 10 trillion won ($7.17 billion) over a one-year period.

In emerging Europe, most equities were on the rise, with Hungary's benchmark .BUX jumping more than 1%, while most currencies slipped against the euro.

Hungary's forint EURHUF= lost 0.9% against the euro ahead of a local interest rate decision on Tuesday, where the Hungarian central bank is widely expected to hold rates steady.

Turkey's lira TRYTOM=D3 weakened 0.2% against the dollar in the lead up to an interest rate decision on Thursday.

South Africa's rand ZAR=D3 appreciated 0.3% against the dollar after ratings agency S&P revised South Africa's outlook to "positive" from "stable", citing plans for accelerated economic reforms by the new government of national unity and a rise in private investments.

Later this week, October inflation figures and an interest rate decision by the South African Reserve Bank will also be on the radar.

The broader EM stocks index dropped more than 4% last week as markets mulled U.S. President-elect Donald Trump's fiscal, trade and immigration policies, which could be a drag on most developing economies.

"In the run-up to Donald Trump's inauguration next January, markets have continued to rotate into exclusively U.S. assets in another illustration of American exceptionalism," analysts at Edmond de Rothschild Group wrote in a note.

Most EM currencies also weakened last week as the dollar continued its charge upwards. On Monday, the dollar index =USD was broadly flat, hovering near its highest level in more than a year.

Meanwhile, Sri Lanka's dollar bonds gained nearly 1 cent, Tradeweb data showed, after President Anura Kumara Dissanayake retained the key finance minister portfolio and re-appointed Harini Amarasuriya as prime minister.

Hong Kong stocks are cheap but may miss out on the benefits of China's economic support, analysts at Goldman Sachs said, while Morgan Stanley warned tensions and tariffs could hurt, as both brokerages downgraded market forecasts.

Ratings agency Moody's upgraded Mongolia's credit rating to 'B2'.

HIGHLIGHTS:

** Pakistan discusses $7 bln bailout reform agenda with IMF in unusual talks

** Israel economy rebounds with 3.8% growth in Q3 amid wars with Hamas, Hezbollah

** Biden allows Ukraine to use US arms to strike inside Russia

Reporting by Shashwat Chauhan in Bengaluru
Editing by Christina Fincher

 
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For CENTRAL EUROPE market report, see CEE/
For TURKISH market report, see .IS
For RUSSIAN market report, see RU/RUB