EMERGING MARKETS-Most Asian shares rise on slowing US inflation, FX mixed

* Malaysian ringgit leads gains in Asian FX * Yen remains pressured * Most Asian shares rise By Archishma Iyer July 31 (Reuters) - Most emerging Asian share markets rose on Monday as sentiment was boosted by data showing easing inflation in the United States, while their currencies were mixed, with the Malaysian ringgit and the South Korean won appreciating. The ringgit led the gains for the day, rising about 0.8%, while the South Korean won rose about 0.2% Data on Friday showed that annual U.S. inflation rose at its slowest pace in more than two years in June, increasing the likelihood that the U.S. Fed could have reached the peak of its aggressive rate hike cycle. The dollar index, which measures the strength of the greenback against six major currencies, ticked up to 101.77 at 0710 GMT. "Evidence of a 'Goldilocks' scenario in the U.S. is helping too, where there are further signs of disinflation even though U.S. consumption is holding up quite well," analysts from ING said in a research note. In Asia, inflation prints in Philippines, Indonesia and South Korea later this week are likely to dictate their respective central banks' stances on inflationary pressures and future rate hikes, while some Asian central banks have already opted for a pause. Additionally, mixed data from Asia's largest economy suggested that Beijing could announce a larger stimulus package to prop up its troubled economy. The Chinese yuan traded marginally higher, while stocks in Shanghai rose 0.5% Other currencies like the Thai baht and the Taiwan dollar fell about 0.5% and 0.1%, respectively. On a separate note, Japan's yen remained pressured, dropping around 0.6%, while its share market gained about 1.3%. Last Friday, the Bank of Japan decided to adjust its yield curve policy for longer-dated bonds, even as it maintained an ultra-accommodative stance, which led to a wild fluctuation in the currency. "The market perceived the Bank of Japan's more flexible Yield Curve Control trading band as a preference for gradualism, and the yen had not strengthened much in response," analysts from DBS said in a research note. Analysts from Maybank said that they did not rule out volatility in the dollar/yen pair in the near term as markets still feel uncertain about the BOJ since the central bank governor has not signalled this move as tightening. Among Asian equities, shares in Bangkok, Seoul , Kuala Lumpur and Manila rose between 0.6% and 0.9%. HIGHLIGHTS: ** Indonesia's benchmark 10-year bond yield steady at 6.274% ** Philippines c.bank sees July inflation at 4.1%-4.9% y/y ** ANALYSIS-Words only go so far: Investors want property fixed before buying China Asia stock indexes and currencies at 0700 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY YTD % % Japan -0.66 -7.73 1.26 27.12 China India +0.01 +0.58 0.21 8.74 Indonesia -0.03 +3.11 0.17 0.90 Malaysia +0.77 -2.61 0.63 -2.40 Philippines +0.13 +1.53 -0.51 0.38 S.Korea Singapore +0.02 +0.68 0.11 3.80 Taiwan -0.14 -2.31 -0.85 21.27 Thailand -0.51 +1.01 0.78 -6.80 (Reporting by Archishma Iyer in Bengaluru; editing by Eileen Soreng)