EM ASIA FX-Most Asian currencies ease on China's woes; Malaysian ringgit leads losses

(Adds text, updates prices)

By Aby Jose Koilparambil

Jan 22 (Reuters) - Most Asian currencies weakened on Tuesday

as a slowdown in China's economy stoked worries over regional

and global growth, denting the appetite for riskier assets.

The International Monetary Fund on Monday cut its world

economic growth forecasts for 2019 and 2020, citing weakness in

Europe and some emerging markets, and warned failure to resolve

Sino-U.S. trade dispute could further destabilise a slowing

global economy.

The global lender also cited the risks of a

sharper-than-expected slowdown in China and a possible "No Deal"

Brexit, saying these could worsen volatility in financial

markets.

China, the world's second-largest economy, grew 6.4 percent

in the fourth quarter from a year earlier, the slowest pace

since the depths of the global financial crisis, data showed on

Monday. Full-year growth of 6.6 percent was the weakest in

nearly three decades, and activity is expected to cool further

in coming months.

"In forex markets, the dollar was mixed but noticeably

stronger against Asian currencies pressured by softer Chinese

GDP," said Mizuho Bank in a note on Tuesday.

Mizuho believes policymakers in major economies are

expecting risks to increase, but will likely maintain their view

that the chance of a recession this year is low.

The Malaysian ringgit was the top decliner,

weakening as much as 0.5 percent ahead of inflation data

scheduled for Thursday.

Malaysia's consumer price index (CPI) was expected to rise

0.4 percent in December from a year earlier, a Reuters poll

showed, slightly faster than the previous month.

The Malaysian currency market was closed for a holiday on

Monday when the China GDP data was released.

The Philippine peso declined as much as 0.3 percent

to 52.900 against the dollar, its weakest level since Dec. 27,

2018.

China's yuan weakened to a near two-week low against the

U.S. dollar, breaching the closely-watched 6.8 mark.

The Thai baht, the Indian rupee and the

Singapore dollar also weakened slightly.

The Indonesian rupiah bucked the trend,

strengthening as much as 0.2 percent after declining up to 0.4

percent in the previous session.

SOUTH KOREAN WON

The Korean won declined up to 0.3 percent to

1,130.90 against the dollar, its weakest level since Dec. 20,

2018.

South Korea's GDP growth slowed to a six-year low, hurt by

weakening exports, underlining a dimming outlook in the face of

a slowdown in key trade partner China.

Tuesday's Bank of Korea GDP report showed growth of 1

percent in the fourth quarter, the fastest in three quarters as

the economy rode a spurt in government stimulus. Seoul increased

spending by 3.1 percent on-quarter, the biggest rise in almost

nine years and helped boost construction and capital investment.

TAIWAN DOLLAR

The Taiwan dollar weakened slightly despite data showed that

its December export orders fell 10.5 percent, far worse than the

3.2 percent decline forecast in the Reuters poll.

The island's exports had fallen 2.1 percent in November.

The following table shows rates for Asian currencies against

the dollar at 0501 GMT.

CURRENCIES VS U.S. DOLLAR

Currency Latest bid Previous day Pct Move

Japan yen 109.460 109.66 +0.18

Sing dlr 1.360 1.3588 -0.11

Taiwan dlr 30.859 30.851 -0.03

Korean won 1130.200 1128.1 -0.19

Baht 31.830 31.775 -0.17

Peso 52.880 52.74 -0.26

Rupiah 14205.000 14220 +0.11

Rupee 71.310 71.28 -0.05

Ringgit 4.130 4.11 -0.48

Yuan 6.803 6.7961 -0.11

Change so far in 2019

Currency Latest bid End 2018 Pct Move

Japan yen 109.460 109.56 +0.09

Sing dlr 1.360 1.3627 +0.18

Taiwan dlr 30.859 30.733 -0.41

Korean won 1130.200 1115.70 -1.28

Baht 31.830 32.55 +2.26

Peso 52.880 52.47 -0.78

Rupiah 14205.000 14375 +1.20

Rupee 71.310 69.77 -2.16

Ringgit 4.130 4.1300 +0.00

Yuan 6.803 6.8730 +1.02

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by

Kim Coghill)