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EMERGING MARKETS-Investors eye China stimulus details, digest hawkish views

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* Indian cenbank leaves rates unchanged * Investors await stimulus measure from China * Indonesia benchmark index hits record high By Tejaswi Marthi April 8 (Reuters) - Indonesian shares hit a record high on Friday as the central bank's forecast of annual inflation being within its target range quelled fears around rate hikes, while investors awaited stimulus measures from China after its recent COVID-19 outbreak. Equities in Indonesia advanced 0.9% to eye their best week since early-January, while stocks in the Philippines also rose 0.9% to mark their best day in two weeks after its exports rose at the fastest rate in six months in February. Other Asian markets also edged higher, scrapping losses it logged during the week. Chinese stocks rose 0.1% amid choppy trade as the country grapples from its worst COVID-19 outbreak in two years. This also weighed on the Chinese yuan as it extended losses against the U.S. dollar "The promise of further monetary support from authorities may further reinforce expectations of a reduction in its one-year policy loan rate next week, and a cut to banks' reserve requirement ratio in Q2," analysts at IG said in a note. The Indian rupee firmed 0.3% against the dollar after the country's central bank left interest rates unchanged, in-line with analysts' expectations, but said it will focus on gradually withdrawing its accommodative policy. "The Reserve Bank of India (RBI) struck a hawkish tone which was expected; they do not seem to be in a hurry to hike rates just yet," said Mitul Kotecha, Senior EM Strategist at TD Securities. Other regional currencies, however, were dragged lower by a strong U.S. dollar, which hit a two-year high on the Fed's hawkish stance. The Indonesian rupiah, although flat, hit its lowest in nearly one month earlier in the session, while the Philippine peso fell 0.2%. "Buoyant U.S. Treasury yields could weigh on foreign flows into IDR bonds in the interim. But drags on IDR could be mitigated to some extent if prices of its coal exports see some support following the EU ban on imports of Russian coal," analysts at Maybank said in a note. Coal users in Japan and South Korea have also halted Russian coal import in the recent months following its invasion of Ukraine, and are now scrambling to find alternative sources. Meanwhile, yields on Indonesia's benchmark bonds edged up 6.793% and Singapore's 10-year bond rose to 2.524%, extending gains from the previous session to hit an over three-year high. HIGHLIGHTS: ** Globe Telecom and Converge Information & Communications climb over 4.6% and 2.9%, respectively, to lead gains on Philippines benchmark index .PSI ** Sidomulyo Selaras and Duta Intidaya top gainers on Indonesia's benchmark index, up 27% and 24.6%, respectively Asia stock indexes and currencies at 0648 GMT COUNTRY FX RIC FX FX INDE STOCKS STOCKS DAILY % YTD % X DAILY YTD % % Japan -0.12 -7.25 <.N2 0.36 -6.27 25> China EC> India +0.24 -1.91 <.NS 0.32 1.97 EI> Indonesi +0.00 -0.75 <.JK 0.81 9.17 a SE> Malaysia -0.01 -1.26 <.KL 0.21 2.33 SE> Philippi -0.25 -1.03 <.PS 0.97 -1.82 nes I> S.Korea 11> Singapor -0.12 -1.00 <.ST -0.74 8.16 e I> Taiwan -0.27 -4.21 <.TW 0.62 -5.13 II> Thailand -0.27 -0.60 <.SE 0.16 1.65 TI> (Reporting by Tejaswi Marthi in Bengaluru; editing by Uttaresh.V)

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