* Chinese central bank’s support for economy lifts stocks
* U.S. treasury yields boost EM currencies
By Agamoni Ghosh
March 11 (Reuters) - Emerging-market stocks rose on Monday, led by Chinese shares after the country’s central bank pledged more support for a slowing economy, while investors continued to digest Friday’s weaker-than-expected jobs data from the United States.
Most developing-world currencies also gained, helped by softer U.S. treasury yields.
China’s central bank said on Sunday it would encourage loans and lower borrowing costs, following data that showed a drop in February’s bank lending.
Mainland China and Hong Kong shares rose, boosting MSCI’s index for emerging-market stocks, which recovered from a one-month low.
Other Asian indices also rose, with India’s NSE index reaching its highest since Sept. 26, as investors looked for a win for the incumbent party in elections that will start April 11.
Stocks in Johannesburg gained, but shares of agri-processor Tongaat fell as much as 21 percent after the company appointed PWC to investigate past accounting practices.
Russian stocks were down 0.4 percent after a three-day weekend, with oil company Rosneft sliding about 1 percent after a fire broke out at one of its refineries.
Most emerging-market currencies edged higher as U.S. Treasury yields fell after U.S. job growth fell short of forecasts in February.
South Africa’s rand moved away from two-month lows, although the currency remained vulnerable to domestic risks linked to power utility Eskom and the threat it poses to the country’s sovereign credit risk.
Turkey’s lira was little changed a day after data showed the economy contracted more than expected in the fourth quarter of 2018, its worst performance in nearly a decade.
The yuan fell against the dollar as global investors sought the safety of the U.S. currency amid rising concern over global growth.
In emerging Europe, Hungary’s forint made marginal gains against the euro after data showed its trade surplus for January was lower than analysts had forecast.
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For RUSSIAN market report, see (Reporting by Agamoni Ghosh in Bengaluru, editing by Larry King)