Feb 9 Reuters Russia39;s rouble led gains among its emerging market peers on Wednesday ahead of inflation data later in the day, while stocks in the region hit a more than twoweek high buoyed by strong gains in Chinese technology shares.

The rouble rose 0.3 to firm past the key 75 mark against the dollar, gaining for the eighth consecutive session, helped by oil price strength and recent diplomatic talks between Russian President Vladimir Putin and his French counterpart Emmanuel Macron on the political and military tensions surrounding Ukraine.

Russia39;s annual consumer price inflation for January is estimated to rise to 8.8, according to a Reuters poll of economists, ahead of its monetary policy meeting due on Friday where expectations are for a hefty 100 basis point hike as the country struggles to reign in inflation pressure.

Inflation is running on a high and volatile plateau, with volatility prone to increase owing to President Putin39;s useful tension approach to the present geopolitical crisis, Christopher Granville, managing director at TS Lombard, said in a note.

Renewed increases in these core inflation measures plausible enough against the overheating backdrop would prompt a 100 basis point policy rate hike, and continued stability would still necessitate a 50 basis point step.

MSCI39;s index of emerging market stocks rose 1.2 to breach a twoweek high with Chinese technology names making most of the gains. Hong Konglisted tech stocks rose 3.8, helped…