EMERGING MARKETS-Asian currencies fall; regional inflation data in focus

(Updates at 0720 GMT) * Inflation in South Korea eases in June * Singapore stocks at an 11-month high * CPI data from the Philippines, Thailand, Taiwan in focus By Roshan Thomas July 2 (Reuters) - Most Asian currencies fell on Tuesday, with the Philippine peso, South Korean won and Indonesian rupiah leading losses against a stronger dollar, while stock markets were mixed amid caution ahead of regional inflation data. The Thai baht, the peso and the rupiah slipped between 0.3% and 0.4%. The dollar index was trading higher at 106.01 amid heightened bets of Donald Trump winning the U.S. presidency. The South Korean won weakened 0.4%, while stocks in Seoul, up 0.8%, were set to snap a two-day rally as a rise in U.S. Treasury yields weighed on sentiment. Consumer inflation in South Korea dropped to an 11-month low in June as supply-side pressures eased, according to official data. The report followed Monday's data indicating that inflation in Indonesia had eased more than anticipated for June. "It is clear that inflation has moderated gradually over the past three months, as headline inflation has fallen from a recent high of 3.1% in February," analysts at ING said. "As a result, we believe that the Bank of Korea will shift its communication tone from hawkish to neutral from its July meeting." Elsewhere, Taiwanese stocks lost 0.8% tracking losses in U.S. chipmakers. Chipmaker giant Taiwan Semiconductor Manufacturing dropped 0.8%. Thai shares fell 0.3%, while Indian stocks were largely unchanged. Shares in Singapore gained 0.7% to touch a 11-month high. Investors now await inflation readings from Thailand, Taiwan and the Philippines this week to get a clearer picture of the regional price pressure and interest rate trajectories for these countries. Traders will also seek clues on potential rate cuts when U.S. Federal Reserve Chair Jerome Powell speaks at an event later in the day. The Fed could afford to wait for a couple of more inflation and jobs reports before considering a rate cut, said Lloyd Chan, a senior currency analyst at MUFG Bank. "So for now, with the Fed not going to do anything on the policy rate, Asian central banks will have to wait out for the time-being." HIGHLIGHTS: ** Indonesian 10-year benchmark yields fall to 0.2% ** Japan will remain vigilant to forex moves, finance minister says ** European Central Bank not in a hurry to cut rates further, Lagarde says Asia stock indexes and currencies at 0720 GMT COUNTRY FX RIC FX FX INDE STOCKS STOCK DAILY YTD % X DAILY S YTD % % % Japan -0.14 -12.7 <.N2 1.12 19.75 5 25> China EC> India -0.10 -0.37 <.NS 0.03 11.12 EI> Indones -0.41 -6.05 <.JK -0.03 -1.86 ia SE> Malaysi -0.21 -2.75 <.KL 0.03 9.90 a SE> Philipp -0.32 -5.82 <.PS -0.62 -1.41 ines I> S.Korea 11> Singapo -0.07 -2.89 <.ST 0.74 3.80 re I> Taiwan -0.30 -5.85 <.TW -0.78 27.60 II> Thailan -0.33 -7.26 <.SE -0.63 -8.81 d TI> (Reporting by Roshan Thomas in Bengaluru; Editing by Sherry Jacob-Phillips and Rashmi Aich)