A sharp rise in the number of coronavirus cases outside China sent alarm bells ringing across emerging markets on Monday, with South Korea's won slumping to a six-month low, while political turmoil in Turkey and Malaysia pressured their currencies.

Investors rushed to safe-haven assets such as gold XAU= and the dollar .DXY as pandemic fears rose after South Korea reported a seventh death and another 161 new cases on Monday, while Italy and Iran were among other countries to see a rapid rise in spread. 

That spooked investors about a wider economic impact prolonging well into the second quarter of the year.

Disrupting global operations, the virus has infected nearly 77,000 people and killed more than 2,500 in China. It has spread to about 28 other countries, with a death toll of around two dozen outside China, according to a Reuters tally. 

MSCI's index of emerging market shares fell 2% in their biggest percentage drop in 3-1/2 weeks, while its currencies counterpart  slid to its lowest in almost three months, both continuing their slide since last week.

"The realization that the virus is a global phenomenon, along with weak data releases on Friday, has led to the negative mood on concerns that uncertainty to globe growth is bigger than what people assumed," said Jakob Christensen, head of emerging market research at Danske Bank.

Christensen was referring to dismal purchasing managers Index's from Japan and the United States last week. Investors will also have their eyes peeled this week for data prints across emerging markets as well as the United States, such as GDP numbers and jobless claims.

Turkey's lira slipped to a nine-month low and Istanbul-listed stocks lost 0.9% on rising investor unease about the conflict in neighbouring Syria. 

A 16th Turkish soldier was killed in Syria's Idlib region over the weekend in a bomb attack by Russian-backed government forces, during a month in which talks between Ankara and Moscow have stalled.

"We could see some pressure on Russia from the West if the situation escalates in Syria. So there may be an indirect effect playing into the mood in Russia," Danske Bank's Christensen said.

The rouble slumped nearly 2%, touching an over four-month low, with a slide in oil prices adding to the exporter's woes. 

South Africa's rand, under pressure on concerns over the country's stretched public finances, slipped 1%.

Investors keenly await Finance Minister Tito Mboweni's budget speech on Wednesday when he is expected to raise personal income and excise tax to try to contain the fiscal deficit, according to a Reuters poll. The country's stocks gave up 4%, extending losses into a third day. 

In Asia, South Korea's won fell 1%, while the country's stocks plunged nearly 4% in their sharpest one-day loss sine October 2018. China, however, reported no new cases and companies slowly resumed production. That capped the yuan's CNY= helping it trade flat.

Malaysia's ringgit touched a six-month low. The central bank said it was closely monitoring conditions in financial markets after Prime Minister Mahathir Mohamad unexpectedly announced his resignation on Monday. 

Hungary's forint fell half a percent against the euro. The central bank is expected to leave its benchmark interest rate alone on Tuesday after its hawkish turn on higher-than-expected inflation helped the currency recovery from record lows. 

(Reporting by Susan Mathew in Bengaluru; editing by Nick Macfie) ((susan.mathew@thomsonreuters.com; +91-80-6749-1130;))