(Sri Lanka stock market closed on Monday holiday)

* Russia's factory activity expands in June

* Hungary, Poland PMI fall in June

* Pakistan shares surge after IMF deal

* Sri Lanka approves domestic debt restructuring plan

* Turkish Lira at fresh record low

July 3 (Reuters) - Emerging market stocks and currencies advanced on Monday, buoyed by continued hopes of support measures from China, while Pakistan's stocks hit their highest since May 2022 after it secured an IMF bailout and Turkey's lira hit a fresh record low.

EM stocks advanced on a 1.3% boost from China stocks,, while currencies gained too. The dollar was on the back foot as traders assessed U.S. data to gauge the Federal Reserve's policy outlook.

Investors firmed their expectations of economic stimulus following fresh data on China's easing factory activity growth in June. This, combined with Friday's survey that revealed factory activity extending declines only added to show the world's No. 2 economy lost steam in the second quarter.

The rouble recovered slightly after domestic political concerns pushed the Russian currency to a more than 15-month low against the dollar late last week.

Meanwhile, data showed Russia's manufacturing sector activity increased for the 14th month running in June.

In Central and East Europe, data showed Hungary's purchasing manager index slipped into contraction for the first time since April 2021, while Polish factories' business conditions deteriorated sharply in June.

While the Hungarian forint slipped 0.2% against the euro, while the Polish zloty edged up.

South Africa's manufacturing activity contracted for the fifth consecutive month in June due to worsening business conditions. The rand was up 0.6%.

Pakistan's benchmark stock index jumped nearly 6% to its highest level since May 2022 as the crisis-struck country's $3 billion bailout from the International Monetary Fund continued to boost sentiment, while auto stocks rose on hopes of easing import restrictions.

"Pakistan joins the list of other small emerging and frontier markets ... back onto the radar of foreign investors," analysts at Tellimer noted while flagging that it is unrealistic to expect the state to pursue the structural reform agenda that might establish a long-term investment case.

The Turkish lira weakened to as much as 26.11 against the dollar, hitting a fresh record low on Monday, extending its losses since the re-election of President Tayyip Erdogan.

Erdogan will chair a cabinet meeting at the presidential palace where he may comment on the economy and the central bank will release its minutes from the June 22 policy meeting, where it raised its key rate by 650 basis points to 15%.

Data also showed the country's factory activity expanded at a steady pace in June, although new orders growth slowed and price pressures grew as the currency weakened.

Elsewhere, Sri Lanka's parliament approved a domestic debt restructuring plan over the weekend that is crucial to continue a $2.9 billion bailout from the International Monetary Fund (IMF). Markets were closed on account of a public holiday.

For GRAPHIC on emerging market FX performance in 2023, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2023, see https://tmsnrt.rs/2OusNdX

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For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see (Reporting by Ankika Biswas in Bengaluru; Editing by Alison Williams)