EM ASIA FX-Most Asian units steady as China indicates further economic stimulus

* Chinese yuan gains as much as 0.4 pct

* Indonesia trade deficit narrows less than expected

* India annual retail inflation in Dec plunges to 18-mth low

(Adds text, updates prices)

By Niyati Shetty

Jan 15 (Reuters) - Most Asian units firmed on Tuesday as

China signalled further supportive measures to shore up its

decelerating economy, after December trade data showed exports

had fallen by the most in two years, hurt by a trade war with

the United States.

Earlier in the day, the China state planner said the country

will aim to achieve "a good start" in the first quarter for the

economy, and added it would improve its "reserve" of economic

policies.

The Chinese yuan firmed as much as 0.4 percent

earlier, but its strength moderated in noon trade.

Vice head of the People's Bank of China said China is

confident it can keep its foreign exchange rate stable despite

cuts in banks' reserve requirement ratio.

Asian currencies have been suffering from worries of the

fallout from the Sino-U.S. trade war and nervousness over the

outlook for the global economy.

But they have been helped recently by expectations that the

Federal Reserves would pause its rate hikes this year as the

U.S. economy displayed signs of cooling.

The Thai baht led gains in the region,

strengthening 0.3 percent, while the South Korean won

and the Taiwan dollar was modestly firmer.

Elsewhere, the Indonesian rupiah firmed slightly

against the greenback. Government data released earlier in the

day showed Indonesia's trade deficit narrow in December, but was

worse than expected as exports dropped.

Indonesia's central bank is expected to keep its benchmark

interest rate unchanged at a policy meeting on Thursday as

concerns about the rupiah has dissipated, a Reuters poll showed.

INDIAN RUPEE TRADES SIDEWAYS

The rupee traded in a tight range on Tuesday as

data showed annual retail inflation in December at its lowest in

18 months, potentially clearing the way for an easier monetary

policy.

"With headline inflation trending at the lower end of the

RBI's target range, a shift in the policy stance from

‘calibrated tightening’ to ‘neutral’ is on the cards at the 7

February policy meeting," DBS Bank economist Radhika Rao and FX

strategist Philip Wee said in a note.

The following table shows rates for Asian currencies against

the dollar at 0445 GMT.

CURRENCIES VS U.S. DOLLAR

Currency Latest bid Previous day Pct Move

Japan yen 108.530 108.16 -0.34

Sing dlr 1.352 1.3533 +0.07

Taiwan dlr 30.803 30.851 +0.16

Korean won 1120.900 1123 +0.19

Baht 31.860 31.95 +0.28

Peso 52.140 52.138 0.00

Rupiah 14090.000 14120 +0.21

Rupee 70.935 70.93 -0.01

Ringgit 4.095 4.097 +0.05

Yuan 6.753 6.7670 +0.21

Change so far in 2019

Currency Latest bid End 2018 Pct Move

Japan yen 108.530 109.56 +0.95

Sing dlr 1.352 1.3627 +0.77

Taiwan dlr 30.803 30.733 -0.23

Korean won 1120.900 1115.70 -0.46

Baht 31.860 32.55 +2.17

Peso 52.140 52.47 +0.63

Rupiah 14090.000 14375 +2.02

Rupee 70.935 69.77 -1.64

Ringgit 4.095 4.1300 +0.85

Yuan 6.753 6.8730 +1.78

(Reporting by Niyati Shetty in Bengaluru; Editing by Simon

Cameron-Moore)