By Karin Strohecker
LONDON, Oct 19 (Reuters) - Some emerging currencies chalked up modest gains on Monday and stocks struggled higher after a slew of Chinese data kept the prospect of more stimulus from Beijing alive, though a drop in oil prices weighed on Russian assets.
Economic growth in the world's second-largest economy came in a touch better-than-expected but dipped below 7 percent for the first time since the global financial crisis, ratcheting up pressure on Beijing to cut interest rates and take measures to stoke activity, and weighing on the yuan.
South Korea's won hit a 3-1/2-month high while South Africa's rand and Turkey's lira both strengthened 0.3 percent against the dollar, with the greenback overall nudging higher.
Meanwhile, MSCI's emerging market stock index edged 0.2 percent higher, with Chinese mainland shares closing flat while many bourses elsewhere nudged higher.
"It was a relatively comfortable level. It shows that China is not falling off a cliff but it is not recovering fast enough to warrant a reduction in stimulus," said Ilan Solot, emerging markets strategist at Brown Brothers Harriman of the growth data. "In terms of risk this was a kind of sweet spot."
Yet in Russia, the rouble weakened around 1 percent and stocks matched that fall as oil prices fell more than 1 percent lower, sliding below $50 a barrel.
In central and eastern Europe, currencies traded flat to slightly lower against the euro.
In Poland, the zloty and stocks eased ahead of a slew of economic data and amid caution ahead of Sunday elections where the opposition Law and Justice party -- regarded as less business-friendly -- is expected to triumph over the ruling Civic Platform.
In Egypt, stocks nudged higher and the pound was flat after weakening on Sunday in a central bank sale and the parallel market as the country's long-awaited parliamentary election got underway.
The elections, repeatedly postponed, are taking place over two rounds on Oct 18-19 and Nov 22-23, with final results expected in December.
For GRAPHIC on emerging market FX performance 2015, see http://link.reuters.com/jus35t
For GRAPHIC on MSCI emerging index performance 2015, see http://link.reuters.com/weh36s
For GRAPHIC on MSCI emerging Europe performance 2015, see http://link.reuters.com/jun28s
For GRAPHIC on MSCI frontier index performance 2015, see http://link.reuters.com/zyh97s
For CENTRAL EUROPE market report, see
For TURKISH market report, see
For RUSSIAN market report, see ) (Additional reporting by Claire Milhench; Editing by Mark Potter)