Indian rupee rises on strong Asian equities

MUMBAI, May 16 (Reuters) - The Indian rupee traded higher in early trade on Friday on expectations of fund inflows into the stock market, which rose more than 2 percent on Thursday, and is seen rising again on gains in Asian markets.

* At 9:08 a.m. (0338 GMT), the partially convertible rupee was at 42.63/64 per dollar, off an early high of 42.59, and Thursday's close of 42.75/76.

* Stocks in other Asian markets like Tokyo .N225, Hong Kong .HSI and Seoul were up, tracking overnight gains in Wall Street. (Reporting by Anurag Joshi; Editing by Harish Nambiar)