By Shashwat Chauhan

Oct 7 (Reuters) - A gauge of emerging market stocks ticked up on Monday, tracking global equities, after a stronger-than-expected U.S. jobs report suggested the world's largest economy remained resilient, while most currencies edged lower.

MSCI's index for emerging market stocks .MSCIEF gained 0.4%, as of 0815 GMT, with index heavyweights Hong Kong .HSI and Taiwan .TWII closing higher by more than 1%.

Data on Fridayshowed U.S. job gains increased by the most in six months in September and the unemployment rate fell to 4.1%, pointing to a resilient economy that likely does not need the Federal Reserve to deliver large interest rate cuts for the rest of this year.

Chances of smaller cuts by the Fed in the future buoyed the U.S.dollar, while most EM currencies came under pressure.

"The U.S. economy is a lot stronger than expected and the narrative of the Fed being much more aggressive than its peers in terms of front-loading the easing cycle is out of the window now," said Kyle Chapman, FX markets analyst at forex broker Ballinger Group.

"In terms of rate differentials, that's going to be bearish for most of these currencies. At the same time, there has been a risk sentiment boost that's outweighed some of this."

MSCI's index for EM currencies index .MIEM00000CUS fell 0.2%, with most currencies in emerging Asia trading lower.

In Central Eastern Europe, most currencies such as the Hungarian forint EURHUF= were flat against the euro, while local equity indexes were on the rise.

South Africa's rand ZAR= appreciated 0.6% against the dollar in choppy trading, and Russia's rouble RUB= fell almost 1%.

Central bank data showed South Africa's net foreign reserves rose to $61.029 billion at the end of September from $60.141 billion in August.

Ratings agency Moody's downgraded Senegal's long-term ratings to 'B1' from 'Ba3', citing significantly weaker fiscal and debt position than expected, while S&P upgraded Serbia to 'Bbb-/A-3' on strong GDP growth and increased external buffers.

Interest rate decisions in India, Israel, Peru and Kenya will be on investors' radar this week.

Markets in China were closed for a public holiday on Monday and trading will resume on Tuesday.

Senior officials from China's top economic planning agency will brief reporters on Tuesday on steps to implement policies to promote economic growth.

HIGHLIGHTS:

** Tunisia's Saied headed toward landslide win in election, supporters celebrate

** India central bank seen on hold, but may open door to easing

Reporting by Shashwat Chauhan in Bengaluru; Editing by Eileen Soreng

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