EMERGING MARKETS-Stocks fall as Hong Kong protests go on; Turkish lira weakens

* HK stocks down about 1% as protests continue

* Turkey's lira down after Trump-Erdogan meeting

* Philippine central bank holds interest rates

* Rouble up after strong third-quarter GDP numbers

By Sagarika Jaisinghani and Susan Mathew

Nov 14 (Reuters) - Anti-government protests in Hong Kong led to a decline by emerging-market stocks on Thursday, while the Turkish lira fell after President Tayyip Erdogan's visit to Washington did little to ease concerns about ties with the United States.

The lira lost 0.5% as U.S. President Donald Trump described his meeting with Erdogan as "wonderful," but fell short of explaining how they would overcome such issues as Syria policy and Turkey's purchase of Russian defence systems.

"The market is assessing the possibility that the U.S. may be inclined to impose sanctions on Turkey for a number of different issues, primarily the purchase of the Russian S-400 systems," said Cristian Maggio, head of emerging market strategy at TD Securities.

A stronger Indian rupee and Philippine peso helped limit declines on a broader index of emerging market currencies.

Hong Kong's Hang Seng index fell nearly 1% to a one-month low as protesters paralysed parts of the Asian financial hub for a fourth day, closing schools and blocking highways.

The index is on track for its biggest weekly decline in three-and-a-half months. It's shed nearly 8% since the protests turned violent in June.

"The biggest risk here is that China at some point loses patience and decides to intervene (and) that would definitely precipitate an increase in friction with the U.S.," Maggio said.

As trade tensions between the world's two largest economies heightened this week, China said it was holding "in-depth" discussions with Washington and that cancelling tariffs was an important condition to reaching a deal.

Chinese stocks rebounded from six-month lows after a slowdown in industrial activity in October led to bets that the central bank would intervene again after cutting a key policy rate this month.

The Russian rouble gained against a weaker dollar for the first time in five sessions, as data showed Russia's economic growth picked up in the third quarter.

The Philippine peso also strengthened for the first time in nearly two weeks after the central bank left its benchmark interest rate unchanged, as expected, following stronger-than-expected growth in the third quarter.

For GRAPHIC on emerging market FX performance 2019, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance 2019, see https://tmsnrt.rs/2OusNdX

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For RUSSIAN market report, see (Reporting by Sagarika Jaisinghani and Susan Mathew in Bengaluru; editing by Larry King)