* Rouble slips ahead of treasury bond auctions
* Belarus dollar-denominated bonds hit a more than 3-week high
* Turkish lira, stock index flat
* South African rand dips on profit booking
By Sagarika Jaisinghani
Sept 2 (Reuters) - Emerging market currencies eased on Wednesday as the dollar bounced from two-year lows on signs of a global economic rebound, with the Russian rouble among the biggest decliners ahead of treasury bond auctions.
The rouble fell to 74.00 a dollar, close to a one-week low of 75.99 as investors also awaited Russia's foreign currency plan. A Reuters survey showed the ministry was expected to ease its selling of foreign currency from state reserves to the equivalent of $540 million.
The oil-linked currency has tumbled about 16% so far in 2020 and is tracking one of its worst years since 2015, partly due to political risks linked to the crisis in Belarus and the suspected poisoning of Kremlin critic Alexei Navalny.
The Belarusian rouble firmed against the euro for a third straight session, while Belarus dollar-denominated bonds jumped to their highest since Aug. 10 a day after Russia discussed refinancing Belarusian debt.
A wider index of emerging market currencies eased 0.2% as the dollar firmed following upbeat manufacturing activity surveys in the world's biggest economy. Investors are also counting on more policy support from Washington and the U.S. Federal Reserve.
"We are entering the second stage of central bank-financed government stimulus," said Hiroshi Watanabe, senior economist at Sony Financial Holdings.
"This means U.S. nominal bond interest rates will be kept low and real interest rates will decline. The dollar will continue to fall while boosting various asset prices from gold to stocks."
A basket of developing world stocks rose 0.1%. The index has bounced about 50% since a coronavirus-driven crash in March and is nearing its January highs as signs of a pickup in business activity boost demand for risky assets.
The rouble-based MOEX Russian stock index was up 0.7%, while the Turkish bourse was nearly flat.
South Africa's rand slipped 0.4% on profit-taking after strong gains in the previous session, while hopes over easing tensions inside the ruling African National Congress (ANC) faded.
For GRAPHIC on emerging market FX performance in 2020, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2020, see https://tmsnrt.rs/2OusNdX
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For RUSSIAN market report, see (Reporting by Sagarika Jaisinghani in Bengaluru; Additional reporting by Hideyuki Sano in Tokyo and Alwyn Scott in New York; editing by Uttaresh.V)