EMERGING MARKETS-Asian FX slumps after China data shows economic slowdown

* China GDP grew 2.9% in Oct-Dec, slower than 3.9% pace in Q3 * Singapore's Dec non-oil domestic exports fall 20.6% yoy * Indonesian rupiah down 0.6%, stocks in Jakarta up 1% By Jaskiran Singh Jan 17 (Reuters) - Asian emerging currencies and equities fell across the board on Tuesday, led by Indonesia's rupiah, after the region's top trading partner and global manufacturing powerhouse China logged one of its lowest annual growth rates in nearly half a century. The Indonesian rupiah, which had been rallying over the past few sessions, depreciated 0.6%, while the Philippine peso shed 0.4%. China's economy, the world's second largest, grew 2.9% in October-December, slower than the third quarter's 3.9% pace, on account of its stringent COVID 19-related curbs. The Chinese economy struggled over 2022 with major industrial centres, including Shanghai and the Yangtze River Delta area as well as Guangzhou, locked down or subjected to curbs for long periods as part of the government's "zero-COVID" strategy. "China data came out showing rather weak economic performance in 2022 so the road to recovery is bumpy, even if the base is favourable," said Trinh Nguyen, senior Asia economist at Natixis. "In other words, there are doubts on how much China can lift the rest of the region regarding its ability to import more after an anaemic 2022." The Chinese yuan slipped 0.3%, while stocks in Shanghai fell 0.2%. The Malaysian ringgit fell 0.3% and the South Korean won was down 0.2%, while Thailand's baht edged 0.1% higher. Singapore's dollar and stock market were little changed. The city-state reported a 20.6% year-on-year decline in non-oil domestic exports (NODX) in December 2022, with falls in both electronics and non-electronic products. "NODX plunged in December from a year ago to the lowest level since Feb 2021, affirming signs of a global growth slowdown and potential recession," analysts at Maybank said in a note. "The sharp decline in NODX may result in a downward revision in the final 4Q GDP numbers for trade-related services such as wholesale trade and water transport," they added. Most equities markets across the region moved lower, with stocks in the Philippines among the top losers with a fall of 1.2%. Stocks in Indonesia bucked the trend, rising 1%, while shares in Thailand were unchanged. HIGHLIGHTS: ** China's population shrinks for the first time since 1961 ** Davos 2023-Investcorp targets Indonesia to expand Southeast Asia footprint ** EXPLAINER-Why Malaysia is considering a ban on palm oil exports to the European Union Asia stock indexes and currencies at 0331 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY YTD % % Japan -0.19 +1.80 1.26 0.21 China India -0.18 +1.17 0.00 -1.16 Indonesia -0.63 +2.84 0.96 -1.44 Malaysia -0.28 +1.73 -0.19 -0.32 Philippines -0.40 +1.74 -1.19 6.02 S.Korea Singapore -0.05 +1.37 -0.05 0.94 Taiwan -0.22 +1.23 -0.10 5.48 Thailand +0.12 +4.74 0.04 1.01 (Reporting by Jaskiran Singh in Bengaluru; Editing by Edmund Klamann)