EMERGING MARKETS-Russian assets hammered by Russia-West standoff; Brazil's real weakens

* Russian, Ukraine dollarbonds at April 2020 lows * Brazil retails sales unexpectedly rise * Argentine inflation rise more than expected * EM stocks saw inflows of $6.7 billion in week to Wed - BofA By Susan Mathew Jan 14 (Reuters) - Russian stocks slumped another 4% to nine-month lows on Friday, while the rouble was back at 76 a dollar and bonds at over 2-1/2-year lows as talks with the West over Ukraine hit a dead-end. Ukraine was hit by a cyberattack splashing a warning across government websites to "be afraid and expect the worst," while Russia, which has massed 100,000 troops on its neighbor's frontier, released pictures of more of its forces on the move. Russia said it was open to more talks with the United States, while Germany is slated to hold talks with Moscow next week. Should the situation not escalate, Russian markets could recover soon given strong fundamentals, analysts say. The rouble will recover "in a matter of days", and fixed income markets will pick up too, said Alexander Kudrin, chief strategist at investment manager Aton. Elena Lovén, senior portfolio manager, EM equities, at Swedbank Robur, said if the global rotation from growth to value stocks goes on this year as interest rates rise, Russian markets will benefit as it is almost three-thirds geared to value in terms of commodity companies. Ukraine bonds were at April 2020 levels, while the hryvnia hit near nine-month lows of 27.989 a greenback. Elsewhere, Turkey's lira, South Africa's rand , and Mexico's peso firmed between 0.2% and 0.4% against a steady dollar, while stocks took a hit after comments from U.S. Federal Reserve officials opened doors to speculation about four interest rate hikes this year as opposed to the three that were priced in. But emerging market stocks enjoyed inflows of $6.7 billion in the week to Wednesday, while bonds suffered the largest outflows in three weeks at $400 million, BofA said in its weekly flow tracking note. Brazil's real fell 0.3% despite data showing a surprise rise in retail sales in November, as a fall in China's imports of meat, copper and iron ore - significant export items for Brazil - dampened sentiment. In Argentina, data overnight showed inflation rose back up to 3.8% in December, above forecasts and to its highest level since last April. This adds pressure on the central bank, which raised the key interest rate to 40% recently. BofA's weekly note said emerging markets led the largest global tightening wave since 2011 with 49 global rate hikes versus seven cuts over the last six months. Key Latin American stock indexes and currencies at 1442 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1256.68 -0.52 MSCI LatAm 2193.06 -0.38 Brazil Bovespa 105402.48 -0.12 Mexico IPC - - Chile IPSA 4466.79 -1.01 Argentina MerVal 84761.29 -0.714 Colombia COLCAP 1464.96 -0.12 Currencies Latest Daily % change Brazil real 5.5436 -0.29 Mexico peso 20.3167 0.08 Chile peso 815.4 0.02 Colombia peso 3973.34 -0.25 Peru sol 3.87 0.21 Argentina peso 103.8100 -0.04 (interbank) (Reporting by Susan Mathew in Bengaluru; editing by Jonathan Oatis)