EMERGING MARKETS-Most emerging Asian stocks rise on renewed rate-cut hopes; FX inch up

* Taiwanese shares hit record high * Thai baht hits highest level since May 23 * Taiwan inflation due later in the day (Updates at 0729 GMT) By Adwitiya Srivastava June 6 (Reuters) - Most emerging Asian equities rose on Thursday, after a softer U.S. jobs data rekindled hopes of a September interest rate cut by the Federal Reserve, while currencies inched up marginally, led by the Thai baht. Stocks in the Philippines gained as much as 1.1% and were set for best day since May 20, while those in Singapore added 0.3%. Indian equities were last up 0.5%, after posting their best one-day jump in more than three years on Wednesday, as Prime Minister Narendra Modi was set to return for a third term, but heading a government dependent on the support of regional allies for the first time. Meanwhile, the May private payrolls report from the U.S. on Wednesday was the latest data to suggest an easing in the labour market, with market participants pricing in 49 basis points of cuts from the Fed this year. Investors now await the U.S. non-farm payrolls data on Friday to gain a better understanding of the rate trajectory. In Canada, the central bank for the first time in four years lowered interest rates by 25 basis points, raising hopes that lower rates elsewhere will soon support stocks. "Within the EM space, especially in the East Asia region, cuts ahead of the Fed generally look less likely at this point as currency weakness can risk feeding into inflationary pressures," analysts at Maybank said in a note. Taiwan equities jumped about 2% to a record high boosted by chip stocks, primarily Taiwan Semiconductor Manufacturing Co, which soared on Nvidia breaching the $3 trillion valuation mark. Bucking the trend, stocks in Thailand fell 0.6% to their lowest level since November 2020. Among currencies, the Thai baht led gains, advancing as much as 0.4% to the highest since May 23, while the Singapore dollar rose 0.1%. The Taiwanese dollar was marginally up by 0.3%, as investors awaited inflation data due later in the day. South Korean financial markets were closed on Thursday for a public holiday. HIGHLIGHTS: ** European Central Bank policy meeting due on Thursday ** Biden congratulates Modi, discusses US official Sullivan's visit ** BOJ's Ueda reaffirms resolve to trim bond buying as bank eyes exit Asia stock indexes and currencies at 0729 GMT Japan -0.04 -9.67 0.55 15.66 China India -0.11 -0.31 0.50 4.62 Indonesi +0.12 -5.32 0.08 -4.39 a Malaysia +0.00 -2.26 0.42 11.04 Philippi +0.18 -5.47 1.06 0.93 nes S.Korea Singapor +0.13 -2.06 0.31 3.08 e Taiwan +0.25 -4.75 1.94 22.15 Thailand +0.22 -6.37 -0.48 -5.93 (Reporting by Adwitiya Srivastava in Bengaluru; Editing by Rashmi Aich and Mrigank Dhaniwala)