*
Philippine peso breaks four-day losing streak
*
Stocks in South Korea reach more than 7-month high
*
Malaysian ringgit down for third day
By Navya Mittal April 11 (Reuters) - Most Asian currencies inched higher on Tuesday led by the Thai baht, as the U.S dollar eased after earlier gains on hawkish Federal Reserve bets and China's consumer inflation slowed to an 18-month low.
The Thai baht and Philippine peso led the rises, appreciating by nearly 0.2% each. The U.S. dollar index slipped 0.1% at 102.37 as of 0301 GMT, after posting its best rally this month on Monday as markets await U.S. inflation data on Wednesday for clues as to the likelihood of more Fed rate hikes. Fed official John Williams said on Monday he expected inflation to ease to 3.75% this year and likely fall to the central bank's 2% target by 2025. "Any inflation reading that is weaker than expected will put further pressure on the U.S. dollar and hence that should provide a further boost to Asian currencies, " said Khoon Goh, head of Asia research at ANZ.
Meanwhile, China's benchmark stock index slipped 0.2% as consumer inflation in March rose at the slowest pace since September 2021. "Weaker CPI underscores inherently weak demand conditions in China and increases bets on further monetary policy easing," Maybank analysts said in a note.
Elsewhere in the region, stock prices climbed higher. Equities in South Korea and Taiwan led the gains, with the Seoul index reaching a more than seven-month high.
In Manila , shares were largely unchanged, while its local currency rose after the Philippines posted its smallest trade deficit in three months in February. The peso had fallen in each of the four previous sessions. In Kuala Lumpur, the Malaysian ringgit declined for the third straight session, weakening 0.1% despite the country's industrial output in February beating expectations with a 3.6% rise.
Highlights
** Indonesian 10-year benchmark yields are down 1.8 basis
points at 6.68%
** India has not suspended trade talks with UK, officials
say
** Pollution choking Thailand's north hits tourism, worries
public Asia stock indexes and currencies
at 0355 GMT
COUNTRY FX RIC FX FX INDE STOCKS STOCKS
DAILY % YTD % X DAILY YTD %
%
Japan +0.15 -1.72 <.N2 1.39 8.95
25>
China <CNY=CFXS -0.00 +0.24 <.SS -0.35 6.95
> EC>
India -0.08 +0.82 <.NS 0.46 -2.21
EI>
Indonesi +0.13 +4.60 <.JK -0.01 -1.17
a SE>
Malaysia -0.11 -0.29 <.KL 0.03 -4.48
SE>
Philippi +0.18 +1.86 <.PS 0.01 -1.17
nes I>
S.Korea <KRW=KFTC +0.17 -4.02 <.KS 1.40 13.90
> 11>
Singapor +0.08 +0.64 <.ST 0.01 1.33
e I>
Taiwan -0.06 +0.78 <.TW 0.31 12.65
II>
Thailand +0.19 +0.82 <.SE 0.10 -4.43
TI>
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Graphic: World FX rates Asian stock markets ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Navya Mittal in Bengaluru; Editing by Jamie
Freed)
