EMERGING MARKETS-Asian fx, shares subdued, PBOC fix pulls yuan off 16-yr low

* Chinese central bank uses daily fix to haul yuan off low * BOJ governor's comments hawkish - analyst * U.S. CPI in focus By Rishav Chatterjee Sept 11 (Reuters) - Emerging Asian currencies were flat to slightly firmer against the U.S. dollar on Monday, helped partly by hawkish comments from the Bank of Japan and the Chinese central bank's defence of the yuan, and there were no big moves in Asia's share markets. The People's Bank of China yanked the yuan off a 16-year low against the dollar on Monday by setting a daily midpoint guidance rate with the strongest bias on record, signaling increasing discomfort with the currency's recent weakness. In the spot market, the onshore yuan was trading around 7.3245 per dollar by mid-morning, steadying from Friday's weakest point at 7.3510, its weakest level since the global financial crisis and 6.1% down on the start of the year. Latest inflation data from China showed declationary pressures easing, as the consumer price index (CPI) rose 0.1% in August from a year earlier. That was slower than the median estimate for a 0.2% increase in a Reuters poll but much stronger than a 0.3% decline in July. "Looking ahead, we expect a modest rebound of inflation reading from China," said OCBC analysts Tommy Xie and Cindy Keung. China also reported its smallest drop in factory prices in five months as the producer price index fell 3.0% from a year earlier, in line with expectations, after a drop of 4.4% in July. There was still little cheet for Asian stock markets, as investors in China sold off shares in property developers, remaining unconvinced by authorities' efforts to revive activity in the mainland real estate market. China's authorities in recent weeks have rolled out a series of measures, such as easing borrowing rules, to support the debt-riddled property sector. "Other than ongoing adjustments in the property sector, China continues to roll out measures to support its capital market," the OCBC analysts added. Comments from Bank of Japan Governor Kazuo Ueda signalling possible interest rate hikes pushed the yen about 1% higher while the dollar fell ahead of this week's U.S. inflation reading. "This week investors will get a stagflation wake-up call, with US CPI expected to rise to its highest level since 2022 on a year-on-year basis," said Jessica Amir, market strategist at trading platform Moomoo. The baht in Thailand gained 0.4% against the dollar, as a newly formed government finally got to work, four months after a national election that resulted in defeat for the former pro-military party that had previously held power. Prime minister, Sretta Thavisin was set to announce his cabinet's policies later in the day. "Signs of political stability in the country coupled with the falling dollar on the back of hawkish comments from the Bank of Japan governor can be attributed to the gains in the Thai Baht," said Poon Panichpibool, markets strategist at Krung Thai Bank. Said the baht's gains stemmed from signs political stability, though it also rose on the back of the yen's gains against the dollar. The dollar index, which completed eight weeks of gains on Friday - its longest run since 2014 - fell to 104.74. Stocks markets in Philippines, Malaysia and and Taiwan eased 0.2%, 0.2% and 1% respectively. Shares in China and Indonesia gained 0.6% and 0.3% respectively. Asia stock indexes and currencies at 0345 GMT COUNTRY FX RIC FX FX INDE STOCK STOCK DAILY YTD % X S S YTD % DAILY % % Japan +0.96 -10.4 <.N2 -0.19 24.72 4 25> China EC> India +0.02 -0.25 <.NS 0.00 9.47 EI> Indones -0.23 +1.37 0.29 1.37 ia Malaysi +0.00 -5.86 <.KL -0.19 -2.90 a SE> Philipp +0.04 -1.71 <.PS -0.22 -5.44 ines I> S.Korea 11> Singapo +0.15 -1.67 <.ST 0.05 -1.29 re I> Taiwan -0.04 -4.10 <.TW -1.01 16.07 II> Thailan +0.42 -2.58 <.SE -0.14 -7.41 d TI> HIGHLIGHTS: ** Thai economy may grow 2.8% this year after new govt - deputy finmin ** Thai govt plans handouts, fuel prices cuts to revive economy-draft policy speech ** China's central bank yanks yuan off 16-year low with strongest fixing bias (Reporting by Rishav Chatterjee in Bengaluru)