By Shashwat Chauhan

Oct 8 (Reuters) - Chinese stocks outperformed their emerging market peers on Tuesday despite losing some momentum to waning optimism around stimulus measures, while most global currencies traded cautiously.

China's blue-chip CSI 300 .CSI300 jumped more than 10% intraday after returning from a week-long holiday, but surrendered some gains in the second half of the session, closing 6% up.

Chairman of the National Development and Reform Commission Zheng Shanjie said China was 'fully confident' of achieving its full-year growth target, but refrained from introducing stronger fiscal steps.

Economists at National Bank of Kuwait noted that markets cooled slightly following Shanjie's press conference, as it "didn't include any new stimulus measures, disappointing investors."

MSCI's index for emerging market stocks .MSCIEF fell 2.2%, bogged down by a more than 9% fall in Hong Kong's Hang Seng Index .HSI, its biggest single-day decline since October 2008.

Bas van Geffen, senior macro strategist at Rabobank noted that "the drop in the HSI index arguably better reflects the latest sentiment."

China's yuan CNY=CFXS slipped 0.6% in onshore trading against the dollar, while it was last up 0.2% offshore CNH=. The broader EM currencies index .MIEM00000CUS was down 0.2% of 0830 GMT.

Most currencies in Central Eastern Europe were nearly flat against the euro, with Hungary's forint EURHUF= holding firm at 401.1 ahead of the release of minutes of its central bank's September policy meeting.

South Africa's rand ZAR=D3 depreciated 0.8% against the dollar, while the benchmark stock index .JTOPI fell more than 1.5%, as mining stocks globally were pressured by China's boost to commodity prices fading.

Focus would remain on the moves of the U.S. dollar, with a consumer price index reading due on Thursday. A blowout jobs report last week all but quashed hopes that the Federal Reserve could opt for another bumper rate cut this year, giving a leg up to the greenback.

Brewing geopolitical tensions in the Middle East also prompted cautious trading sentiment. Israel's military said it had begun ground operations in southwest Lebanon, expanding its incursions to a new zone a year after exchanges of fire began with Hezbollah.

Later in the day, an interest rate decision by Kenya's central bank would be on investors' radar.

Rate verdicts in India and Israel are also due later this week.

HIGHLIGHTS:

** US-based China ETFs get bumper influx, some investors optimistic tide is turning

** Colombia in talks with Germany over debt-nature swaps, minister says

** Romania's top court says it barred candidate from presidential race over pro-Russian views

Reporting by Shashwat Chauhan in Bengaluru; Editing by Varun H K

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