By Shashwat Chauhan

Sept 2 (Reuters) -Equities in emerging markets slipped on Monday as lacklustre performances of China shares weighed, while most currencies flitted in a narrow range ahead of a plethora of global economic data this week including a crucial U.S. jobs print.

As of 0850 GMT, MSCI's index for emerging market stocks .MSCIEF dipped 0.3%, a while a gauge for currencies .MIEM00000CUS dipped 0.1%.

Focus this week would be on U.S. jobs report, due on Friday, which could be key for investors to gauge the size of potential rate cuts by the Federal Reserve this month.

"Our view remains that the U.S. employment picture should slow down over the coming months, but that slowdown is consistent with a soft landing scenario," Mohit Kumar, chief economist-strategist, Europe, Jefferies said in a note.

EM heavyweight Chinese shares .SSEC, .CSI300 closed more than 1% lower, with property stocks at the helm of losses, while onshore yuan CNY=CFXS dipped 0.3% after strengthening in the past six weeks. .SS

Investors appeared to shrug off a private sector survey that showed China's manufacturing activity in August swung back to growth, offering a glimmer of hope amid a string of dismal economic data this summer.

Traders also parsed a raft of data in Europe, with Hungary's seasonally adjusted purchasing managers' index (PMI) contracting for the third straight month in August, while Poland's manufacturing sector declined slightly less last month than in July.

Poland's zloty EURPLN=, Czech crown EURCZK= and the Hungarian forint EURHUF= were range-bound against the euro.

A separate reading showed Turkey's economy expanded by a less-than-expected 2.5% in the second quarter of the year, cooling in the face of a year-long monetary tightening drive.

The lira TRYTOM=D3 appreciated 0.3% against the dollar, while Turkish stocks .XU100 jumped more than 2%.

Later this week, interest rate decisions in Argentina, Chile, Poland, Malaysia and Egypt are likely to be on investors' radar.

Chinese state media reported that President Xi Jinping met South African President Cyril Ramaphosa in Beijing, who arrived ahead of the ninth Forum on China-Africa Cooperation (FOCAC) Summit later this week.

Ratings agency Fitch downgraded Uganda's credit rating to 'B' late on Friday, citing heightened fiscal risk and external liquidity pressures, while S&P upgraded Montenegro to 'B+' on stronger external and fiscal positions.

S&P also affirmed Ukraine's foreign currency credit rating at "selective" default after bondholders approved the war-torn country's plan to restructure more than $20 billion of debt.

Trading activity is expected to be light in the absence of U.S. participants as markets there are shut for a public holiday.

HIGHLIGHTS:

** Czech manufacturing contracts at slowest pace in two years in Aug, PMI shows

** Egypt's net foreign assets positive for third straight month in July

Reporting by Shashwat Chauhan in Bengaluru; Editing by Sherry Jacob-Phillips

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