EMERGING MARKETS-Indonesian rupiah hovers near four-year lows

* Indonesian rupiah drops as much as 0.5% * Hawkish comments from Fed supports dollar * Philippine c.bank seen holding interest rate - Reuters poll By Rajasik Mukherjee June 26 (Reuters) - The Indonesian rupiah had its biggest daily fall in more than a week on Wednesday, trading near four-year lows as the U.S. Federal Reserve's higher-for-longer stance on monetary policy and a slew of domestic factors pressured the currency. Most other emerging Asian currencies were also under pressure against the dollar as a hawkish Fed drags on risk-sensitive Asian assets. Investors now await U.S. price data at the end of the week for any change to the rate-cut outlook. The U.S. dollar index, which measures the greenback against a basket of major currencies, was trading slightly higher at 105.660 during early Asian hours, ahead of key inflation print due later in the week. A higher U.S. interest rate environment supports the dollar, which in turn pressures emerging market assets. Back in Southeast Asia, the Indonesian rupiah fell as much as 0.5% to 16,445.0 per dollar, hovering around its lowest level since April 2020. The rupiah is also facing pressures from higher foreign exchange demand from domestic companies and uncertainty related to the country's fiscal plans. "Near term, IDR could face further downward pressure. A move towards the COVID-low of 16,625 vs the dollar cannot be ruled out," said Christopher Wong, FX Strategist at OCBC. "Comments (last week) about IDR fundamental value below 16,000, recent worries about domestic fiscal plans and broad softness in Asian FX complex have further added to IDR softness." The South Korean won shed 0.2%. Bank of Korea flagged possible downward pressure on the won, but assured the market they would fine tune risk monitoring factors to stabilise the market as needed. The Taiwanese dollar lost 0.3% while Taiwanese stocks soared on the U.S. tech rally led by Nvidia overnight. The Philippine peso traded flat ahead of its central bank's monetary policy meeting where interest rates are expected to remain unchanged, a Reuters Poll showed. "The BSP (Bangko Sentral ng Pilipinas) ... is likely to stay on hold although we look out for any further hints of dovishness, which can risk adding to pressure to the PHP," analysts at Maybank wrote. Elsewhere in the region, the Thai baht lost 0.2% while Thai stocks gained 0.2%. Stocks in Jakarta rose as much as 0.8%. Among other emerging markets, the Mexian peso was trading largely flat during Asian hours ahead of a central bank meeting. HIGHLIGHTS: ** Indonesian 10-year benchmark yields rise to 7.097% ** Steady dollar sends yen to the brink of 160 ** BUZZ-Falling yuan may tip Asian currencies over the edge Asia stock indexes and currencies at 0351 GMT COUNTRY FX RIC FX FX INDE STOCK STOCK DAILY YTD % X S S YTD % DAILY % % Japan -0.08 -11.7 <.N2 +1.44 +18.7 4 25> % 5% China EC> India 0.00 -0.27 <.NS 0.00 9.16 EI> Indones -0.30 -6.24 <.JK 0.54 -4.85 ia SE> Malaysi -0.11 -2.51 <.KL 0.18 9.18 a SE> Philipp -0.06 -5.79 <.PS -0.12 -2.46 ines I> S.Korea 11> Singapo -0.01 -2.62 <.ST -0.07 2.58 re I> Taiwan -0.26 -5.51 <.TW 0.24 27.88 II> Thailan -0.24 -7.08 <.SE -0.03 -6.85 d TI> (Reporting by Rajasik Mukherjee in Bengaluru; Editing by Stephen Coates)