EMERGING MARKETS-Indonesian shares pare gains ahead of GDP data; other Asian markets mixed

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E * Indonesia to post first annual GDP contraction since 1998- poll * Thai consumer confidence hits a 9-month low * Taiwan dollar extends rally By Shruti Sonal Feb 4 (Reuters) - Indonesian shares pared earlier gains on Thursday ahead of GDP data, while most other Asian stock markets were mixed as investors exercised caution triggered by worries about policy tightening in China and mixed cues from Wall Street. The Jakarta benchmark, which climbed as much as 1.7% earlier in the session, was trading up 0.3% at 0747 GMT. Indonesia, which has suffered the worst COVID-19 outbreak in Southeast Asia, is expected to post its first annual contraction in gross domestic product (GDP) since 1998 on Friday, a Reuters poll showed. Although analysts expect the fourth-quarter GDP growth to contract less severely than the previous quarter, they have flagged recovery risks. "That the gradual improvement in GDP growth in Q4 will be carried forward into 2021 cannot be assumed given the recent rise in COVID-19 cases", said Venkateswaran Lavanya, economist at Mizuho Bank. "Fundamentally, improvement in growth will be uneven, possibly even temporary, depending on the pandemic situation as infection rates rise in waves", she added. Initial gains were driven by the country's plan to expand its COVID-19 recovery budget this year to $44.2 billion and extend tax incentives for businesses to boost economic recovery. Elsewhere, equities presented a mixed front due to fresh investor worries over signs of liquidity tension in China ahead of the upcoming Lunar New Year holiday. Trade-reliant Singapore bourse shed 0.9%, while Philippines and India were trading higher 0.6% and 0.3%, respectively. The Thai benchmark pared early gains after data showed consumer confidence in the tourism-reliant economy dropped to a nine-month low in January following a fresh wave of COVID-19 infections. Central banks and vaccination drives remained in focus. Bank of England is expected to keep its benchmark interest rate on hold later in the day, while China's central bank said it will keep liquidity reasonably ample and resume injecting cash via 14-day reverse repos. On the vaccine front, Singapore became the first Asian country to approve Moderna's COVID-19 vaccine on Wednesday, while Thailand's resort island of Phuket is planning private coronavirus vaccinations. Among currencies, the Taiwan dollar added over 1.5%, extending a strong rally that has been driven by robust demand for the country's tech exports. Most others, including the Malaysian ringgit and Philippine peso fell as the dollar traded near its strongest levels in more than two months against the euro and the yen. Highlights: ** Taiwan c.bank plans to limit overseas loan remittances for firms ** Malaysia's 10-year benchmark yield is up 3.6 basis points at 2.755% ** Top losers on the Singapore STI include: UOL Group Ltd, Jardine Matheson Holdings Ltd and Capitaland Ltd Asia stock indexes and currencies at 0811 GMT COUNTRY FX RIC FX FX INDE STOCKS STOCK DAILY YTD % X DAILY S YTD % % % Japan -0.16 -1.84 <.N2 -1.06 3.27 25> China <CNY=CFX -0.00 +1.03 <.SS -0.44 0.83 S> EC> India +0.07 +0.22 <.NS 0.26 6.06 EI> Indones -0.07 +0.21 <.JK 0.48 2.14 ia SE> Malaysi -0.17 -0.89 <.KL -0.36 -3.07 a SE> Philipp -0.17 -0.12 <.PS 0.65 -3.30 ines I> S.Korea <KRW=KFT -0.32 -2.89 <.KS -1.35 7.45 C> 11> Singapo -0.15 -1.03 <.ST -0.99 1.92 re I> Taiwan -0.02 +0.36 <.TW -0.41 6.61 II> Thailan +0.03 -0.23 <.SE 0.46 2.71 d TI> (Reporting by Shruti Sonal in Bengaluru; Editing by Bernard Orr)