* Hungary's forint falls a day after 100 bps rate cut

* Country Garden liquidation petition adds to China property woes

* U.S. inflation data awaited

* Stocks down 0.7%, FX ease 0.2%

Feb 28 (Reuters) - A gauge of emerging market stocks slipped on Wednesday, as heavyweight Chinese shares lost ground after a recent rally and rekindled property sector woes, while a strengthening dollar weighed on currencies.

At 0902 GMT, MSCI's gauge of emerging market stocks was down 0.7% at a one-week low amid weakness in heavyweight Asian bourses.

Shares in mainland China closed 1.3% lower, with some investors booking profits after a recent rally led by policy support, while property problems added to investor concerns.

Chinese developer Country Garden said a liquidation petition had been filed against it for non-payment of a $205 million loan, clouding its debt revamp prospects and undermining Beijing's effort to restore confidence in the property sector.

Shanghai shares lost 1.9% and Hong Kong was down 1.5% at the close.

In currencies, Hungary's forint led losses among local peers, down 0.3% against the euro, extending declines a day after its central bank stepped up the pace of interest rate reductions, bringing its base rate down to 9%.

Poland's zloty dipped 0.2%, while the Czech crown was pinned at over 21-month lows at 25.338.

Emerging Europe equity indexes were mixed early on, with Romanian stocks up 0.3%, while shares in Warsaw dipped 0.9%.

Emerging market (EM) currencies were under pressure against the dollar as the U.S. currency firmed ahead of the release of the Federal Reserve's preferred measure of inflation on Thursday, with investors hunting for more clues on when the central bank may start easing its monetary policy.

"We remain of the view that evidence of resilient inflation in the Fed's preferred measure of inflation will offer more support to the dollar into the end of the week," ING strategists wrote in a note.

South Africa's rand lost 0.7% and Israel's shekel dipped 0.4%, while a broader gauge of EM currencies lost 0.2%.

Inflation data from several other major economies, including a broad euro zone measure and manufacturing figures from China, will also be on investors' radar this week.

Russia's rouble steadied to trade at 92 per dollar, while stocks continued their recent gains. The country's rouble denominated index rose 0.8%.

A meeting of the Group of Twenty (G20) finance ministers will start in Brazil on Wednesday.


** Focus on timelines, predictability at next sovereign debt roundtable, IMF chief says

** Turkish economic confidence falls slightly in February

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(Reporting by Shashwat Chauhan in Bengaluru Editing by Mark Potter)