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EM ASIA FX-Risk-off mood hits Indian rupee, S.Korean won most

* Indian rupee weakens more than 0.5 pct

* S.Korean won breaks longest winning run since Nov.

* Sing dollar keeps an even keel

(Adds text, updates prices)

By Aaron Saldanha

June 8 (Reuters) - Asian emerging market currencies fell

along with regional equities on Friday, as investors rebalanced

their portfolios before a busy week of central bank meetings and

the U.S.-North Korea summit.

The European Central Bank, U.S. Federal Reserve and Bank of

Japan meet next week to review policy, while the U.S.-North

Korea summit takes place on Tuesday in Singapore. The Group of

Seven industralised nations will also hold a summit this


"We are seeing a bit of a risk-off tone, equity markets

across the board in Asia are down and that is filtering through

into Asian currencies," said Khoon Goh, head of Asia research

for ANZ.

Investors are looking out for the Federal Reserve's dot

plots and growth outlook at the meeting ending Wednesday and the

ECB is expected to debate whether to end its quantitative easing

programme later this year.

Ahead of the G7 summit in Canada which starts later on

Friday, markets are on edge as leaders of the group appear set

to clash on trade issues.

Among Asian currencies, the Singapore dollar

maintained a fairly even keel on Friday.

The Taiwan dollar fell a relatively modest 0.15

percent, while Indonesia's rupiah lost 0.36 percent.

The Chinese yuan weakened 0.18 percent on a day

when the People's Bank of China loosened the yuan mid-point

for the first time in four sessions, setting it at

6.4003 to the U.S. dollar.

Malaysia's ringgit weakened 0.18 percent, while the

country's benchmark equity index was trading as much as

as 0.7 percent lower.

Thailand's baht eased 0.28 percent, in step with a

0.2 percent decline in the benchmark for Thai shares.

The South Korean won's 0.5 percent loss made it

the second-biggest regional loser on Friday. Profit-taking

interrupted the currency's longest winning streak since

November, 2017.


The Philippine peso weakened 0.28 percent and the

Philippine benchmark equity index dropped as much as 1.1

percent in the wake of data reflecting weaker economic


The Philippines' trade deficit widened to a four-month high

in April on robust purchases of capital and consumer goods

abroad and as weak demand overseas dented exports.

The country's worsening trade gap adds further pressure on

the peso, the region's second-worst performer so far this year.


India's rupee ended the week by losing 0.53

percent, compounding a 0.31 percent loss on Thursday.

The Reserve Bank of India hiked the key interest rate by

0.25 percent on Wednesday, but also raised the inflation

forecast for the second-half of fiscal 2018-19.

"For INR, it still has the traditional headwinds of oil

prices; current elevated levels will continue to put upward

pressure on inflation and lead to near-term deterioration of the

current account," said ANZ's Goh.

"Despite the RBI hiking this week, there is a need for them

to move again...there will be some pressure on the Indian rupee

in the near term."

The following table shows rates for Asian currencies against

the dollar at 0535 GMT.


Change on day at 0535 GMT

Currency Latest bid Previous day Pct Move

Japan yen 109.700 109.69 -0.01

Sing dlr 1.334 1.3336 -0.01

Taiwan dlr 29.784 29.740 -0.15

Korean won 1074.400 1069 -0.50

Baht 32.030 31.94 -0.28

Peso 52.637 52.49 -0.28

Rupiah 13915.000 13865 -0.36

Rupee 67.480 67.12 -0.53

Ringgit 3.982 3.975 -0.18

Yuan 6.404 6.3931 -0.18

* Closed for market


Change so far in 2018

Currency Latest bid End 2017 Pct Move

Japan yen 109.700 112.67 +2.71

Sing dlr 1.334 1.3373 +0.26

Taiwan dlr 29.784 29.848 +0.21

Korean won 1074.400 1070.50 -0.36

Baht 32.030 32.58 +1.72

Peso 52.637 49.93 -5.14

Rupiah 13915.000 13565 -2.52

Rupee 67.480 63.87 -5.35

Ringgit 3.982 4.0440 +1.56

Yuan 6.404 6.5069 +1.60

(Reporting by Aaron Saldanha in Bengaluru

Editing by Jacqueline Wong)