CORRECTED-EMERGING MARKETS-Malaysian ringgit flat after cenbank holds rates steady; other currencies fall

(Corrects company name in sixth paragraph to BNP Paribas from Barclays) * Malaysia opts for pause in interest rate hike * South Korean won, Thai baht lead declines * U.S. dollar shines after strong services data By Archishma Iyer Sept 7 (Reuters) - The Malaysian ringgit barely moved after the country's central bank kept interest rates steady on Thursday, while a resurgent dollar weighed on other Asian currencies as robust U.S. data stoked concerns that rates would remain higher for longer. The ringgit was trading at 4.673 per dollar, as of 0720 GMT. The currency has been one of the weak performers in Asia this year, declining more than 5.8%. Bank Negara Malaysia joined other regional peers in holding interest rates steady to focus on economic growth at a time when resilient U.S. economic data has bolstered expectations of rates staying elevated for longer. "The (central bank) statement no longer describes monetary stance as 'slightly accommodative', removing any residual expectation for additional tightening," said Frances Cheung, a rates strategist with OCBC. With more Asian central banks opting for a pause to focus on economic growth, a wider rate differential - the interest rate difference between two countries - is likely to weigh more on riskier assets. "Wide rate differential with the U.S. is not peculiar to Malaysia alone; many regional economies also face a similar headwind, and this drag on the ringgit is likely to persist in the short run," said Siddharth Mathur, head of macro strategy EM Research, APAC at BNP Paribas. Central banks in the Philippines, Indonesia, India and South Korea have held interest rates steady in recent times, while Thailand maintains a hawkish rhetoric, having raised rates by 25 basis points in August. Among other currencies in Asia, the Thai baht, Indonesia's rupiah and the South Korean won dropped between 0.2% and 0.3%. The Institute for Supply Management (ISM) said its non-manufacturing PMI rose in August, with new orders firming and businesses paying higher prices for inputs. At 0720 GMT, the dollar index, which measures the strength of the greenback against six major rivals, stood at 104.96, near a six-month high. "US growth out-performance continues to be the theme driving the U.S. dollar higher and that was reaffirmed by strong ISM services print last night," analysts at Saxo Markets wrote in a note. Many Asian equity benchmarks lost ground on Thursday, with shares in Singapore, the Philippines and Indonesia down between 0.2% and 1%. HIGHLIGHTS: ** Indonesia's benchmark 10-year bond yield rises to 6.558% ** Philippines has 'very ample' sugar stocks, no immediate plans to import ** China's trade slump narrows as stabilisation signs emerge Asia stock indexes and currencies at 0720 GMT COUNTRY FX RIC FX FX YTD INDEX STOCKS STOCKS DAILY % DAILY YTD % % % Japan +0.13 -11.09 -0.75 27.17 China -0.11 -5.82 -1.13 1.07 India -0.07 -0.56 0.01 8.33 Indonesia -0.29 +1.50 -0.59 1.52 Malaysia -0.02 -5.84 0.09 -2.25 Philippines +0.32 -2.02 -0.94 -5.84 S.Korea -0.37 -5.31 -0.59 13.94 Singapore -0.11 -1.84 -0.25 -1.12 Taiwan -0.12 -4.05 -0.71 17.55 Thailand -0.34 -2.88 0.08 -7.11 (Reporting by Archishma Iyer in Bengaluru; Editing by Subhranshu Sahu)