EMERGING MARKETS-Rouble hits 2015 high as Ukraine crisis seen easing

* Rouble hits new high for 2015 on Ukraine hopes

* Emerging and Asian shares reach six-month records

* Mainland demand lifts Hong Kong shares to seven-year peak

By Chris Vellacott

LONDON, April 9 (Reuters) - The rouble surged on Thursday to new 2015 highs on abiding hopes it would rally further as concern over the Ukraine crisis eased.

The currency rose more than 2 percent against the dollar and euro, its fourth consecutive day of gains. Oil recouped 2 percent of Wednesday's 6-percent slump.

"The rouble seems to have decoupled completely from oil prices which is something that normally doesn't last for long," Danske's chief emerging market analyst, Lars Christensen, said.

"We would expect to see the rally start to fade relatively soon but it seems sentiment is quite strong. The explanation is probably flow-driven rather than driven by underlying fundamentals, though oil prices have stabilised a little bit."

Emerging equities also rallied, with the MSCI emerging stocks index rising 0.7 percent to touch new six-month highs as investors put aside worries that plans by the U.S. Federal Reserve to raise rates would undermine emerging assets.

Asian stocks were also stronger, extending the previous day's gains to rise 0.7 percent

Hong Kong shares surged 2.7 percent, touching a seven-year peak, fuelled by money inflows from mainland Chinese investors buying cheaper shares after a 60-percent rally in Shanghai in the past five months. The Shanghai Composite Index was 1 percent weaker on Thursday, however.

Mumbai shares were 0.3 percent higher while the rupee was flat against the dollar after Moody's revised India's sovereign rating outlook to "positive" from "stable", citing a healthy economic growth outlook.

Ukraine sovereign dollar bonds rose up to 1.75 cents in price after a creditor group said it was working on a proposal that would allow Ukraine to resolve its debt problems without cutting the bonds' principal.

Turkey's lira inched higher against the dollar one day after the government mandated Deutsche Bank, Goldman Sachs and HSBC for a dollar-denominated eurobond issue maturing in 2026 for which bankers said initial price guidance was 265 basis points over U.S. Treasuries.

For GRAPHIC on emerging market FX performance 2015, see link.reuters.com/jus35t

For GRAPHIC on MSCI emerging index performance 2015, see link.reuters.com/weh36s

For GRAPHIC on MSCI emerging Europe performance 2015, see link.reuters.com/jun28s

For GRAPHIC on MSCI frontier index performance 2015, see link.reuters.com/zyh97s

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see ) (Editing by Louise Ireland)

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