EMERGING MARKETS-EM currencies slip, stocks rise as markets welcome Trump's Iran comments

* MSCI EM FX down 0.2% on rising dollar

* South Korea's KOSPI falls ​over 3% ⁠on profit-booking

* Countries ramp up measures to tackle oil price ​spikes

* Turkish markets closed for holiday

May 19 (Reuters) - Most emerging market currencies weakened against a higher dollar on Tuesday but stocks broadly rose as markets drew comfort ​from ‌U.S. President Donald Trump's comments on Iran, which raised expectations of an end to the conflict. Trump said on Monday he had paused a planned attack ⁠against Iran after Tehran sent a peace proposal to Washington, and that there was ⁠now a "very good chance" of reaching a ​deal limiting Iran's nuclear program.

Oil prices slipped 2%, and risk appetite improved across markets. Most Asian equity bourses were higher, with stocks in Singapore hitting a record high.

"We're sort of in line with consensus in the conflict. Trump is looking for an exit and an end to ​the conflict. Our ‌base case is that there will be some resolution at some point this year," said Mark Preskett, senior portfolio manager at Morningstar Wealth.

"It's not really surprising that when there's a positive announcement like last night, there's a renewed risk appetite in stocks."

Hungarian and Romanian equities rose 0.3% and 1.3% respectively, while Polish stocks slipped 0.1%.

MSCI's index tracking global EM stocks fell 1.2% to a two-week low, dragged down ​by the heavyweight South Korean index, which lost 3.3% after an eye-popping rally as investors booked some profits.

"With Korea, the moves are so ‌pronounced, you get these bouts of profit taking, and that's understandable especially when Korea does remain reliant on Middle East oil and gas," said Preskett.

"There's a risk factor there, but the underlying fundamentals ‌are still pretty strong."

Indonesia's stocks also fell 3.4%, and the rupiah currency hit a fresh record low against the dollar, as investors weighed the fallout of the conflict on the energy-importing nation against Jakarta's spending plans and market transparency. Many countries have taken steps to cushion the ​blow from elevated oil prices. Indian retailers raised prices by less than a rupee per litre for the second time in a week. Protests broke out in ‌Kenya on Monday against the price hikes. Thailand's cabinet approved new borrowing of 200 billion baht ($6.13 billion) to support a consumer subsidy scheme, to alleviate the impact of the war on the cost of living.

On the FX front, the dollar index that measures the greenback against ⁠a basket ⁠of major currencies gained 0.2%, pressuring EM pairs. The MSCI gauge lost 0.2%.

South Africa's rand ‌slipped 0.3% and stocks lost 0.1% as gold prices inched lower. Gold is among the top exports of the country.

Currencies in emerging Europe were subdued against the euro, barring ​the Hungarian forint that weakened ​0.4%.

Markets in Turkey were closed for a public holiday.

HIGHLIGHTS:

** China expected to keep benchmark ‌lending rates steady amid flush liquidity ** Japan, China lead declines in foreign holdings of Treasuries in March, data shows ** Interest rates in Poland are not at an appropriate level, central banker says

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For RUSSIAN market report, see (Reporting by Purvi Agarwal in Bengaluru, Editing by Alexandra Hudson)