EMERGING MARKETS-Asian units weaken on low risk appetite ahead of Fed meeting

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E * Asian stock markets: https://tmsnrt.rs/2zpUAr4 * Investors eye U.S Fed meeting * Malaysia exports rise at fastest pace in four years * Higher U.S Treasury yields weigh on EM currencies By Harish Sridharan April 28 (Reuters) - Asian currencies were weaker on Wednesday as a rise in U.S Treasury yields took some shine off risk assets, while investor caution ahead of a U.S. Federal Reserve meeting kept shares rudderless. "Higher UST yields are weighing a tad on AxJ (Asia excluding Japan) FX this morning. Caution could also be creeping in across risk assets as earlier positive growth data has been somewhat priced in and broad equity up-moves are beginning to show signs of resistance," analysts at Maybank said in a note. When the Fed's policy meeting concludes on Wednesday, Chair Jerome Powell's is expected to reaffirm commitment to keeping monetary policy accomodative over a prolonged time, though signs of rising inflation expectations has raised some speculation that policy could be tightened sooner than thought. Malaysian government data showed exports jumped 31% in March from a year earlier, rising at their fastest pace in nearly four years, as the Southeast Asian country continues to recover from the pandemic. Malaysian stocks were down 0.4%, while the ringgit weakened 0.1%. Singapore's central bank said that the city-state's economic growth is likely to exceed 6% this year and added that its accommodative monetary policy stance remained appropriate. Shares and the Singapore dollar were both marginally weaker. The South Korean benchmark share index fell as much as 1% and was on course to record its worst session for a week, driven declines in and SK Hynix and Samsung Electronics share prices, while the won weakened 0.2%. Indonesia's finance ministry on Tuesday said that it sold 28.05 trillion rupiah ($1.94 billion) worth of bonds in a bi-weekly bond auction, slightly below its indicative target. Analysts at OCBC Treasury Research said that even though the bond auction in Indonesia went better than before and saw more demand for five year and ten year bonds, the curve looked flat. Indonesian 10-year benchmark yields were up 10.5 basis points at 6.559%. The rupiah was marginally weaker. Highlights ** Matichon PCL was up 24.55% and among the top gainers on the Thailand's SETI ** In the Philippines, the top index gainer was Bloomberry Resorts Corp, up 4.86% ** Among the heavyweights in South Korea, technology giant Samsung Electronics fell 0.84% and peer SK Hynix fell 2.96% Asia stock indexes and currencies at 0511 GMT COUNTRY FX RIC FX FX INDE STOCKS STOCK DAILY YTD % X DAILY S YTD % % % Japan -0.12 -5.12 <.N2 0.37 6.03 25> China EC> India +0.28 -1.85 <.NS 0.64 5.47 EI> Indones -0.10 -3.14 <.JK 0.12 -0.21 ia SE> Malaysi -0.10 -1.95 <.KL -0.36 -1.62 a SE> Philipp +0.06 -0.89 <.PS 1.77 -9.39 ines I> S.Korea 11> Singapo -0.04 -0.42 <.ST -0.07 12.95 re I> Taiwan +0.07 +2.14 <.TW -0.29 19.09 II> Thailan -0.03 -4.53 <.SE 0.90 8.55 d TI> (Reporting by Harish Sridharan in Bengaluru; Editing by Simon Cameron-Moore)