Jan 18 (Reuters) – Emerging market stocks rebounded on Thursday after upbeat earnings from Taiwanese chipmaker TSMC lifted technology shares across Asia while currencies also edged higher against a subdued dollar as investors eyed the U.S. interest rate path.

MSCI’s index for emerging market equities .MSCIEF climbed 0.5% by 0926 GMT, with China’s blue-chip shares .CSI300 bouncing off a five-year low.

Aiding sentiment towards technology stocks across the globe, the world’s largest contract chipmaker TSMC2330.TW beat quarterly profit estimates and projected upwards of 20% revenue growth this year.

Hong Kong’s technology shares .HSTECH rose 0.5%, while shares of South Korean chipmakers Samsung Electronics 005930.KS and SK Hynix 000660.KS gained 1.0% and 4.0%, respectively.

A gauge of EM currencies .MIEM00000CUS inched 0.2% higher against a muted dollar =USD.

EM stocks and currencies fell in the past three sessions while the dollar rallied after a slew of global central bankers pushed back against expectations of early interest rate cuts this year.

On Thursday, the South African rand ZAR= rose 0.4% against the dollar and regional stocks .JTOPI also added 1.1%.

The South Korean won KRW= outperformed other Asian currencies, rising 0.6%, while the Chinese yuan CNY=CFXS hovered close to a near two-month low.

“We expect yuan to underperform vs Asia FX and other EM blocs this year,” Alex Loo, FX and macro strategist at TD Securities, said in a note.

“China’s murky economic outlook isn’t favourable for the yuan,” said Loo, adding equities could see a further hit if authorities don’t step up intervention.

Pakistan’s international bonds fell after the foreign ministry said it conducted strikes inside Iran on Thursday, two days after Tehran said it had attacked the bases of another group within Pakistani territory. The country’s benchmark stock index .KSE slipped 0.9%.

Kenya intends to go to international bond markets as soon as the market situation allows, its finance minister and central bank governor said, a day after the East African nation secured the International Monetary Fund’s approval for a $941 million lending.

The Kenyan shilling KES= was down 0.5%, hitting fresh record lows against the dollar.

The Russian rouble RUBUTSTN=MCX held steady at around the 88 to the dollar mark.

(Reporting by Amruta Khandekar; Editing by Eileen Soreng)