EMERGING MARKETS-Asian fx, stocks slip as US yields seen rising; Indian markets hit by virus surge

* India shares down 3%, rupee lowest since August * South Korean won, Thai baht weaken 0.5% each * Shares in Singapore, Malaysia, Indonesia slip * Indonesian rupiah at its lowest since November By Sameer Manekar April 12 (Reuters) - Asian currencies weakened and equities declined on Monday, with South Korean won, Indian rupee and Thai baht falling the most, as expectations of more robust economic data from the United States is expected to push U.S. yields higher. South Korea's won weakened 0.5% and Indian rupee hit its lowest level since Aug. 4. Equities in Singapore and Malaysia lost more than half a percent, while Indian shares plunged as much as 3% amid surge in coronavirus cases. Investors await U.S. consumer inflation data for March on Tuesday, where a likely jump on the back of massive stimulus spending is expected to push U.S. Treasury yields higher. Bouts of positive data signalling a rapid economic recovery in the United States, which some analysts have said will outpace other developed markets, have supported the U.S. dollar this year and dented the appeal of its emerging market counterparts. "Emerging markets currencies will be caught in the cross-fire between inflation and yield-seeking behaviour in a higher debt world paradoxically inundated with cheap capital," Masayuki Tsunashima, an analyst at Mizuho Bank said in a note. In Singapore, stocks declined for the fifth straight session ahead of the central bank's monetary policy decision on Wednesday. The Monetary Authority of Singapore (MAS) is seen keeping its exchange-rate based policy settings unchanged, a Reuters poll showed. MAS lets the local dollar rise or fall against the currencies of its main trading partners within an undisclosed band. Singapore's trade-reliant economy is expected to contract only slightly in the first quarter as activity continues to recover from a pandemic-induced shock, a separate Reuters poll showed. Singapore is also facing some political uncertainty after the city-state's deputy prime minister unexpectedly stepped aside as the designated successor to current premier Lee Hsien Loong. Indonesia's rupiah, which backs some of the highest-yielding debt in emerging markets, fell to its lowest level since Nov. 3, with 10-year benchmark yields jumping nearly a percent. Retail sales in Indonesia fell 18.1% in February from the same month a year earlier, a central bank survey showed. The benchmark stock index in Jakarta slid as much as 0.9%, while shares in Kuala Lumpur fell 0.5%. Shares in Thailand lost as much as 1.5% as a surge in coronavirus cases weighed on sentiment. Through the week, first-quarter economic performance of China, Asia's growth powerhouse, as well as corporate earnings in the United States will also be in focus. HIGHLIGHTS: ** Indonesian 10-year benchmark yields rise 6.2 basis points to 6.515% ** South Korean battery makers climb after dispute settlement over EV battery technology ** Financials and consumer firms top losers in the Jakarta index Asia stock indexes and currencies at 0438 GMT COUNTRY FX RIC FX FX INDE STOCK STOCK DAILY YTD % X S S YTD % DAILY % % Japan +0.09 -5.76 <.N2 -0.53 7.90 25> China EC> India -0.24 -2.47 <.NS -2.30 3.66 EI> Indones -0.27 -3.84 <.JK -1.34 0.17 ia SE> Malaysi -0.05 -2.78 <.KL -0.39 -1.30 a SE> Philipp -0.06 -1.15 <.PS -0.17 -8.48 ines I> S.Korea 11> Singapo -0.08 -1.60 <.ST -0.41 11.53 re I> Taiwan -0.07 +0.10 <.TW 0.14 14.56 II> Thailan -0.44 -5.07 <.SE -1.26 6.71 d TI> (Reporting by Sameer Manekar in Bengaluru; Editing by Simon Cameron-Moore)