EMERGING MARKETS-Stocks fall as Trump fans U.S.-China trade fears

* U.S. President Donald Trump holds up a trade deal with China

* Turkish lira weaker ahead of central bank rate decision

By Aaron Saldanha

June 12 (Reuters) – Emerging-market stocks fell on Wednesday after reaching their highest in nearly a month on Tuesday, as fears grew that the U.S.-China trade war would intensify. Turkey’s lira weakened before a central bank meeting.

U.S. President Donald Trump on Tuesday said he had no interest in moving ahead unless Beijing agrees to four or five “major points”, which he did not specify, curbing risk appetite towards developing-world assets.

Turkey’s lira was 0.2% weaker. Analysts polled by Reuters expect the Central Bank of the Republic of Turkey to leave its weekly repo rate at 24% when it meets later on Wednesday.

“We don’t expect the CBRT to surprise at today’s MPC meeting, […] Hong Kong-traded stocks lost 1.9% and local interbank interest rates shot up as protests shut down parts of the city and demand for cash surged.

Istanbul-listed stocks fell 0.2%, with bank shares declining 0.7%. The market has underperformed the bulk of emerging markets over the past three months, amid rising tensions with the United States.

Washington has threatened to impose sanctions […] to Turkey in July.

South Africa’s rand slipped 0.1%. South African equities fell 0.3% as gains among materials were overshadowed by a decline in financials.

Hungary’s forint gained against the euro before the release of the minutes of the central bank’s May meeting.

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Reporting by Aaron Saldanha in Bengaluru, editing by Larry King