EMERGING MARKETS-Emerging Asia stocks, currencies weaken as Fed signals tapering

(Repeats for wider readership. No change to text.) * Singapore, Indonesia stocks dip over 1% * Thailand, Philippines snap 3-day winning streaks * Philippines lowers 2021 economic growth target * Indonesia c. bank expected to hold rates at record low By Arundhati Dutta Aug 19 (Reuters) - Emerging Asian stocks fell and currencies weakened on Thursday after minutes from the U.S. Federal Reserve's last meeting showed that tapering of monetary stimulus could start this year, helping the dollar higher and weighing on risk appetite. The South Korean won led losses among currencies, as the greenback hit multi-month highs against peers. The minutes from July's policy meeting showed Fed officials discussed when to taper monthly bond purchases and flagged stimulus easing could start this year if the economy continued to improve. "We see a possibility of Fed Chair Powell indicating 'progress' has been made towards the Fed's goals but stop short of giving a strong signal of a September taper announcement when he speaks at the Jackson Hole Symposium next week," Sophia Ng, analyst at MUFG Bank, wrote in a note. "Announcing in September could also be too soon given uncertainties with regards to the Delta variant and its impact on the economy," the note added. Taiwanese stocks led losses among equities, dropping more than 2%. Indonesian equities fell up to 1.5% ahead of its central bank's rate decision later in the day. A Reuters poll expects the bank will keep its benchmark interest rate at a record low as it tries to continue to support the economy amid COVID-19 induced restrictions. "What investors will be looking out for is if BI (Bank Indonesia) will continue to finance the budget deficit for the third consecutive year in 2022," Ng said. The Singapore stock benchmark hit its lowest in six weeks, while the Singapore dollar was at its weakest in almost a month. Malaysian stocks were down 0.4% amid reports that the country's former deputy prime minister Ismail Sabri Yaakob was poised to win the premiership race after the coalition government collapsed earlier this week. The Thai and Philippine benchmark indexes snapped three-day winning streaks. The Philippines slashed its 2021 economic growth target, reflecting the impact of a two-week lockdown of the capital region to contain the spread of the Delta coronavirus variant. Markets in India were closed for a public holiday. HIGHLIGHTS **Indonesian 10-year benchmark yields are up 0.8 basis points at 6.329% **Malaysia's 3-year benchmark yield is up 0.3 basis points at 1.913% **Singapore's 10-year benchmark yield is down 0.5 basis points at 1.396% Asia stock indexes and currencies at 0348 GMT COUNTRY FX RIC FX FX INDE STOCKS STOCKS DAILY % YTD % X DAILY YTD % % Japan -0.38 -6.28 <.N2 -0.69 -0.18 25> China EC> Indonesi -0.24 -2.53 <.JK -1.28 1.02 a SE> Malaysia -0.07 -5.17 <.KL -0.47 -6.71 SE> Philippi -0.34 -4.99 <.PS -0.39 -6.80 nes I> S.Korea 11> Singapor -0.31 -3.20 <.ST -0.93 9.10 e I> Taiwan -0.26 +2.03 <.TW -2.16 11.75 II> Thailand -0.35 -10.3 <.SE -0.27 6.79 0 TI> (Reporting by Arundhati Dutta in Bengaluru; Editing by Sam Holmes)