* Iranian President Ebrahim Raisi killed in helicopter crash

* China leaves benchmark LPRs unchanged

* EM stocks up 0.2%, FX flat

May 20 (Reuters) - A gauge for emerging market stocks extended gains to a seventh session on Monday, with heavyweight Chinese bourses rising amid Beijing's latest measures to aid its property sector, while most currencies were flat ahead of several rate decisions this week.

As of 0451 GMT, MSCI's index for emerging market stocks gained 0.2%, touching its highest level since April 2022, while an index for currencies was flat.

Most EM currencies saw weekly gains last week, with both MSCI EM indexes clocking their fourth successive weekly gain, as the dollar weakened following a soft inflation data, which bolstered hopes of the Federal Reserve cutting interest rates soon, though cautious commentary from policymakers tapered the enthusiasm.

"Markets remain in risk-on mode supporting EM FX," Frantisek Taborsky, EMEA FX & FI strategist at ING said.

"So for today, we are rather neutral and may see some minor retracement of gains from previous days."

Chinese bourses closed higher as sentiment remained upbeat after Beijing announced "historic" steps last week to stabilise its crisis-hit property sector, with the central bank facilitating 1 trillion yuan ($138 billion) in extra funding and easing mortgage rules, and local governments set to buy "some" apartments.

Separately, China also left its benchmark lending rates unchanged, in line with market expectations.

Investors also kept tabs on the developments in Iran as officials and state media said Iranian President Ebrahim Raisi was killed in a helicopter crash in mountainous terrain near the Azerbaijan border.

In Central Eastern Europe, Hungary's forint gained 0.2% against the euro in holiday-thinned trading ahead of a central bank decision on Tuesday, where the bank is expected to cut its base rate by 50 basis points.

Equity markets in the country were closed for a public holiday.

Bourses in Poland, Romania and Turkey advanced between 0.6% and 1%.

South Africa's rand held steady at 18.16 per dollar, with focus on national elections in the country next week, while stocks gained 0.6%.

Elsewhere, the Ugandan shilling weakened after a downgrade of the country's credit rating spooked commercial banks, causing them to buy hard currency, traders said.

S&P revised Ivory Coast's outlook to 'positive', retaining a 'BB-/B' rating, while Fitch said it sees implications for Georgia's sovereign credit profile if recent events exacerbate political tensions.


** Vietnam parliament elects new speaker amid leadership reshuffle

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(Reporting by Shashwat Chauhan in Bengaluru; Editing by Krishna Chandra Eluri)