EMERGING MARKETS-Indonesian rupiah bounces back after crude palm oil excluded from export ban

* Most Asian currencies firm, Indonesian rupiah up 0.4% * Shares mixed across region, Indian stocks jump 1.2% By Indranil Sarkar April 26(Reuters) - The Indonesian rupiah on Tuesday rebounded from heavy losses in the prior session after the country's agriculture ministry clarified that crude palm oil shipments would be excluded from a planned ban on exports of the vegoil. The rupiah, which had been broadly stable this year, firmed 0.4%, coming out of its worst day in over 10 months, while Indonesia's benchmark stock index slipped 0.4%. "After an initial surprise ban on palm oil exports which was due to take effect on Thursday, the stance might have softened," DBS analysts wrote in a note. "These restrictions are likely to be temporary ... once inventories are built up and prices stabilise, restrictions are likely to be lifted." Separately, the country's central bank intends to review its normalisation plan for monetary policy in May to June, and wants to assess any risks to the inflation outlook if the government changes energy prices and subsidies, Governor Perry Warjiyo told Reuters. Elsewhere, the South Korean won rose to its highest levels since December after the country posted better-than-expected gross domestic product (GDP) data. However, the Bank of Korea is expected to revise this year's growth forecast downwards in its next review in May, as the country faces headwinds from the Ukraine conflict, U.S. monetary policy tightening and COVID-19 lockdowns in China. GDP growth moderated in the first quarter at a pace of expansion broadly in line with pre-pandemic historical averages, said Brian Tan, analyst at Barclays Bank. "We reduce our 2022 GDP growth forecast to 2.8% from 3.0%, but continue to expect two more 25bp policy rate hikes this year," Tan added. Meanwhile, in the middle of Shanghai's fourth week of lockdown along with fears the Chinese capital may face a similar fate, investors clutched onto hopes of more easing measures to reduce the economic impact of a COVID outbreak in world's second-largest economy. This left stock markets across the region largely mixed, with Indian shares rebounding after sharp losses in the last two sessions to rise 1.3%, as domestic investors bet on strong earnings. HIGHLIGHTS ** Top losers on the Jakarta stock index include Harapan Duta Pertiwi PT and PT Bank Neo Commerce Tbk down 7% ** All major Indian sub-indexes trading in positive territory with the Nifty Auto index leading the pack Asia stock indexes and currencies at 0505 GMT COUNTRY FX RIC FX FX INDEX STOCK STOCK DAIL YTD S S YTD Y % % DAILY % % Japan -0.0 -10. <.N225 +0.68 -7.00 2 20 > China +0.4 -2.7 <.SSEC 0.94 -18.7 0 6 > 9 India +0.2 -2.8 <.NSEI 1.16 -1.17 5 3 > Indonesia +0.3 -1.0 <.JKSE -0.26 9.36 4 8 > Malaysia +0.1 -4.2 <.KLSE 0.34 1.78 8 1 > Philippines +0.3 -2.3 -0.74 -2.16 1 6 S.Korea +0.1 -4.7 <.KS11 0.50 -10.3 5 4 > 2 Singapore +0.1 -1.6 -0.19 6.71 6 7 Taiwan +0.2 -5.4 <.TWII 0.37 -8.43 7 6 > Thailand -0.2 -2.2 <.SETI -0.27 0.79 3 0 > (Reporting by Indranil Sarkar in Bengaluru; Editing by Kenneth Maxwell)