Stock indexes in emerging markets bounced back from two sessions of declines and most currencies traded around flat, as markets on Wednesday looked past U.S. tariff rhetoric and focused on regional developments.

MSCI's index tracking global EM currencies was little changed, but the stocks gauge rose 0.6%, aided by a 2.6% in Hong Kong stocks and gains in broader EM equities.

The Middle East grabbed attention, after U.S. President Trump pressed Jordan's King Abdullah to take in Palestinians who would be permanently displaced under plans for the U.S. to take over the Gaza Strip.

Dollar-denominated sovereign bonds in Jordan were broadly higher, with ones maturing in 2030 and 2047 up over 0.6 cents to the dollar each.

Russia's rouble jumped 2.9% to trade at an over four-month high, over the counter data showed, after a deal between Russia and the U.S. brought home a prisoner who was detained and sentenced in Russia.

Most stock markets on Wednesday were firm despite the prospect of U.S. tariffs that have left EM assets volatile, after Tump's team was said to be finalising reciprocal tariffs on every country that charges duties on U.S. imports.

"There is a sense of fatigue in some of the Trump trades, where this year's U-turns on tariffs have made it a lot harder to reach definitive conclusions," said analysts at ING.

"Despite that, there's no way to predict if tomorrow will be the day Washington significantly expands tariffs."

Emerging Europe currencies were little changed against the euro. Hungary's central bank was scheduled to release the minutes of its January monetary policy meeting.

Stock indexes in the region were higher, with the Polish blue-chip index up 1.2%. The Budapest and Bucharest indexes were up 0.4% and 0.1% respectively.

South Africa's rand was 0.2% higher. Stocks in the natural resources rich country surged 1.1% to a record high.

Israel's shekel was little changed. It sold $5 billion of five- and 10-year bonds in an international debt offering overnight, the country's second such issue since war broke out 16 months ago.

Elsewhere, Hong Kong shares of China Vanke gained, after a report said Chinese authorities were exploring a plan to help the property developer plug a funding gap of about 50 billion yuan ($6.84 billion) this year.

Vietnam's dong was trading at a record low against the dollar, but the country is expected to revise up its gross domestic product growth target for 2025, despite U.S. tariff risks.

(Reporting by Purvi Agarwal in Bengaluru; editing by Barbara Lewis)