EMERGING MARKETS-Asian currencies slip ahead of U.S. inflation data

* Indonesia stocks jump most in nearly 5 weeks * Singapore stocks eye best day since Nov. 29 * GoTo shares eye best day since May 18 By Roushni Nair Dec 13 (Reuters) - The Philippine peso and Malaysian ringgit led declines among most Asian currencies on Tuesday, as investors exercised caution ahead of key U.S. inflation data that could determine the Federal Reserve's stance on future interest rate hikes. Stocks across the region mostly firmed, with equities in Jakarta advancing more than a percent — their second straight day of gains after bouncing back from a seven-day losing streak. The upbeat sentiment was underpinned by a massive surge in the country's biggest tech firm GoTo Gojek Tokopedia's shares, which soared as much as 24.1% after a 16-day losing streak. After losing 55% since mid-November and more than 70% since their debut in April, GoTo rebounded as share price approached the 50-rupiah minimum threshold set by the exchange. Separately, Indonesia's government agreed to a financial sector bill allowing former politicians to stand as central bank governors to support economic growth. The bill will be brought to a plenary session this week for a wider vote. The Philippine peso lost 0.4%, touching its lowest level in a week, while the Indonesian rupiah depreciated 0.3% to drop to its lowest since end-November. Stocks in the Philippines edged higher for a third straight session. The country's central bank is likely to opt for a more modest 50 basis point (bp) interest rate hike on Thursday, a Reuters poll found. U.S. inflation data due on Tuesday will shed light on whether the Fed will shift to smaller increases in borrowing costs from now on. "Core CPI has only made a minor attempt to top out. So, if we are to see it unexpectedly tick higher today it would likely bolster the U.S. dollar as traders price in the potential for a more aggressive Fed," Matt Simpson, a market analyst at City Index said. Meanwhile, fund managers and investment advisers are returning to battered Asian bond markets, betting on a rebound in 2023, though with a wary eye on the risks of defaults and a global recession. Alvin Tan, Head of Asia FX strategy at RBC Capital Markets said 2023 as a whole would be positive for Asian currencies, stating that "a bit more dollar strength in early 2023 is expected, but then basically that should mark the end of the long term of the medium term dollar up-cycle." Among other currencies, Malaysia's ringgit depreciated 0.4%, while Thai baht, Chinese yuan , Singapore dollar and South Korea's won remained largely flat. Stock markets in Southeast Asia were broadly trading higher, with equities in India and Singapore advancing 0.4% and 0.8%, respectively. HIGHLIGHTS: ** Indonesian 10-year benchmark yields largely unchanged ** Thai Nov industrial sentiment at highest in over 3 years ** Malaysia end-Nov palm oil stocks down 4.98% M/M Asia stock indexes and currencies at 0711 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY YTD % % Japan +0.03 -16.3 0.40 -2.91% 8 China India -0.18 -10.1 0.42 7.03 0 Indonesi -0.16 -8.95 0.97 3.32 a Malaysia -0.41 -6.05 -0.17 -4.27 Philippi -0.43 -8.67 -0.04 -7.58 nes S.Korea Singapor +0.07 -0.34 0.80 4.54 e Taiwan -0.03 -9.92 -0.61 -20.29 Thailand -0.03 -4.01 0.06 -2.02 (Reporting by Roushni Nair in Bengaluru; editing by Uttaresh.V)