EM ASIA FX-Robust China data lifts Asian currencies, S'pore dollar slips on soft outlook

By Hanna Paul

Oct 13 (Reuters) - Rosy Chinese data and the soft dollar

lifted emerging Asian currencies on Friday, except for the

Singapore dollar which dipped on the central bank's cautious

outlook for the economy.

China's yuan perked up to its highest in three

weeks and was headed for weekly gains, helped by weakness in the

dollar and encouraging trade data.

Exports rose 8.1 percent, below forecasts of 8.8 percent but

handily beating August's 5.5 percent.

Imports in dollar-denominated terms grew 18.7 percent in

September from a year earlier, beating analysts' forecasts for a

13.5 percent expansion and accelerating from 13.3 percent in

August.

The gain was stronger than the most optimistic forecast in a

Reuters poll of analysts.

The trade data also showed China's iron ore imports vaulted

to a record high in September as the world's top steel producer

imported ore to raise production ahead of the winter crackdown

on air pollution.

"China trade data seems to be making the big risk appeal in

the region and it seems to be the overriding factor today," said

Stephen Innes, senior trader at FX broker OANDA.

Softness in the dollar also added cheer to the emerging

Asian currencies. The greenback was muted as investors

cautiously awaited inflation data which could shed more light on

whether the U.S. Federal Reserve will hike interest rates later

in the year.

Among Asian currencies the Indian rupee appreciated

for a fifth consecutive day, rising to levels unseen since

September 25 after data showed that the country's retail

inflation remained steady in September.

The report also showed that the chances of a rate cut remain

dim as the central bank expects higher inflation in the coming

months.

The Malaysian ringgit picked up marginally. The

world's second-largest palm oil producer said it planned to

accelerate its crude palm oil export tax to 6.5 percent in

November.

The Philippine peso is staying afloat after being

a hair's breadth away from an 11-year dip at one point.

"I think we need to take a more balanced view on the peso.

Investor optimism in the country's relatively high growth

prospects is reflected in the record high stock market," said

Philip Wee, senior currency economist at DBS Bank.

"The growth is, however, accompanied by the return of the

first twin (budget and trade) deficit since 2002, and inflation

rising back above the 3 percent policy rate. This is reflected

more in the Philippine peso," Wee said.

The Thai market was closed for a market holiday.

SINGAPORE DOLLAR

The Singapore dollar retreated, breaking a four-day

winning streak as the central bank cited the likelihood of a

slowdown in growth in 2018.

The Monetary Authority of Singapore keep its neutral stance

on monetary policy settings and maintained the local currency's

policy band, the pace at which it can appreciate against a

basket of rivals, at zero percent.

"The benign tone for inflation and the cautious outlook for

2018 growth to be slightly below this year are likely to dampen

expectations for a tightening at the next review in April 2018,"

DBS Research said in a note.

Meanwhile, the trade-reliant economy's gross domestic

product growth outpaced expectations in the third

quarter.

On a weekly basis the currency appreciated, after four

straight weeks in the red.

The following table shows rates for Asian currencies against

the dollar at 0512 GMT.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0512 GMT

Currency Latest bid Previous day Pct

Move

Japan yen 112.060 112.27 +0.19

Sing dlr 1.354 1.3521 -0.16

Taiwan dlr 30.182 30.213 +0.10

Korean won 1129.900 1133.2 +0.29

Peso 51.420 51.43 +0.02

Rupiah 13503.000 13504 +0.01

Rupee 64.910 65.08 +0.26

Ringgit 4.217 4.22 +0.07

Yuan 6.577 6.5897 +0.20

Change so far in 2017

Currency Latest bid End 2016 Pct

Move

Japan yen 112.060 117.07 +4.47

Sing dlr 1.354 1.4490 +6.99

Taiwan dlr 30.182 32.279 +6.95

Korean won 1129.900 1207.70 +6.89

Peso 51.420 49.72 -3.31

Rupiah 13503.000 13470 -0.24

Rupee 64.910 67.92 +4.64

Ringgit 4.217 4.4845 +6.34

Yuan 6.577 6.9467 +5.63

(Reporting by Hanna Paul; Editing by Eric Meijer)