EM ASIA FX-Most Asian units slip as virus spread pushes investors to safer assets

* S.Korean won set to snap two weekly gains * Malaysian ringgit set for biggest weekly slump in over 3 yrs * Indian financial markets closed for a holiday (Adds text, updates prices) By Shreya Mariam Job Feb 21 (Reuters) - Most Asian currencies slipped on Friday, with the South Korean won leading declines, as a sharp rise in new coronavirus cases outside mainland China sent investors scurrying to safer assets such as the U.S. dollar. The South Korean won fell 0.6% after the country reported 52 new cases of the fast-spreading virus and data showed exports to China in the first 20 days of February slumped 3.7%. "Continued rise in contagion could warrant a re-assessment of the macro fallout on Korea in terms of both supply chain disruption and inbound tourism," Maybank said in a note. The won has lost 2% this week, the most among its peers, and was on track to snap two weekly gains as the outbreak upends global growth and supply chains. In Taiwan, one of the economies most exposed to the outbreak, export orders in January fell by their steepest in nearly seven years, data showed on Thursday. The Taiwan dollar weakened 0.3% and was set to lose more than 1% for the week. The rising economic toll of the virus and its rapid spread outside China prompted investors to seek shelter in the dollar , which hovered near a three-year peak hit overnight. The Malaysian ringgit slipped 1.4% for the week, its biggest weekly drop since November 2016. The Thai baht lost 0.5% and was on track to post a weekly drop of 1.4%. Southeast Asia's second-largest economy is among those hit hardest by the outbreak, prompting the country's central bank to lower growth forecasts earlier this week. Meanwhile, the Indonesian rupiah slipped 0.3%. The country's central bank lowered its key policy interest rate on Thursday, in a bid to cushion the blow from the epidemic, which also pushed Bank Indonesia to cut this year's economic growth outlook. Financial markets in India were closed for a holiday. CURRENCIES VS U.S. DOLLAR Change on the day at 0555 GMT Currency Latest bid Previous day Pct Move Japan yen 111.940 112.11 +0.15 Sing dlr 1.400 1.4006 +0.03 Taiwan dlr 30.358 30.254 -0.34 Korean won 1206.200 1198.7 -0.62 Baht 31.630 31.47 -0.51 Peso 50.770 50.76 -0.02 Rupiah 13745.000 13700 -0.33 Ringgit 4.193 4.183 -0.31 Yuan 7.033 7.0230 -0.14 Change so far in 2020 Currency Latest bid End 2019 Pct Move Japan yen 111.940 108.61 -2.97 Sing dlr 1.400 1.3444 -3.99 Taiwan dlr 30.358 30.106 -0.83 Korean won 1206.200 1156.40 -4.13 Baht 31.630 29.91 -5.44 Peso 50.770 50.65 -0.24 Rupiah 13745.000 13880 +0.98 Rupee 71.650 71.38 -0.38 Ringgit 4.193 4.0890 -2.55 Yuan 7.033 6.9632 -0.99 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Aditya Soni)