* EM FX set for fifth straight weekly loss * Lira slumps to new record low * Chinese property bonds, stocks slump Oct 8 (Reuters) - Most emerging market currencies fell on Friday ahead of key U.S. payrolls data, while Chinese stocks surged after a week-long holiday, even as concerns over a property market debt default persisted. Turkey’s lira slipped 1% to a record low of 8.9650 against the dollar, and was the worst performing emerging market (EM) currency on the day after a Reuters report suggested that President Tayyip Erdogan was losing confidence in central bank governor Sahap Kavcioglu, less than seven months after he sacked his predecessor. Erdogan had gone through a string of central bank presidents over the past two years in a bid to enforce his unorthodox view that high interest rates cause inflation, which has seen prices spike, while pushing the lira to record lows. Broader EM currencies slipped as investors adopted a cautious stance ahead of U.S. payrolls data later in the day. A stronger-than-expected reading could affirm the Federal Reserve’s faith in the U.S. economy, and push the bank into tightening policy earlier than signalled. MSCI’s index of emerging market currencies fell 0.2%, and was set for a fifth straight week of losses as concerns over sluggish economic growth and debt problems in China saw investors pull out of risk. U.S. Treasury yields and the dollar strengthened ahead of the announcement, while a temporary raising of the U.S. government’s debt ceiling also helped sentiment. “The U.S. employment report for September could prove determinant on whether the Fed will begin tapering its quantitative easing (QE) purchases next month,” Charalambos Pissouros, head of research at JFD Group wrote in a note. “(A more decent report than August) may encourage market participants to add to bets over a November QE tapering by the Fed, and perhaps even bring forth their expectations over when the first interest rate hike could take place.” Chinese stocks surged after a week-long holiday, helped by encouraging service sector data and easing political tensions with the United States. But bonds and shares issued by Chinese property firms slumped amid few cues on how regulators aim to contain the contagion from the debt problems of the country’s second biggest developer, China Evergrande Group. Russia’s rouble slipped 0.4%, while stocks rose 0.2%. Heavyweight oil and gas producer Gazprom’s shares slipped 1% as it was forced to halt operations at its Amur gas processing plant, due to a fire. Most central European currencies fell slightly to the euro. Expectations of interest rate increases in the region rose as data showed inflation on the rise. For GRAPHIC on emerging market FX performance in 2021, see tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see tmsnrt.rs/2OusNdX For TOP NEWS across emerging markets For CENTRAL EUROPE market report, see For TURKISH market report, see For RUSSIAN market report, see (Reporting by Ambar Warrick Editing by Robert Birsel)