EMERGING MARKETS-South Korean stocks lead emerging Asia lower, track losses on Wall Street

Oct 5 (Reuters) - Asian emerging market shares were broadly lower on Tuesday, with South Korea leading losses, as its heavyweight technology stocks tracked a sell-off in their U.S. counterparts overnight. South Korea's KOSPI index fell as far as 2.6%, while other emerging stocks dipped. Wall Street ended sharply lower on Monday as investors dumped Big Tech and other growth stocks in the face of rising Treasury yields. U.S. Treasury yields rose as Washington wrangled over the debt ceiling, while yields have also been supported recently by concerns that elevated inflation could bring forward a timeline for Federal Reserve tapering. Markets were also eyeing September employment data later this week. A strong result could pave the way for the Fed to begin reducing its $120 billion in monthly bond purchases in November, the central bank indicated in its September meeting, which may sap appetite for the region's riskier assets. "Barring a huge miss in the NFP (non-farm payrolls) this Friday, expect the market to continue buying into the hawkish Fed storyline," OCBC said, adding that this would support the dollar. The Philippine peso and South Korean won firmed around 0.2% each, while most others dipped against the safe-haven greenback. OPEC+ also ignored calls from the United States and India to boost oil output as the global economy recovers and stuck to its current output policy. That lifted oil prices to their highest in at least three years, weighing on the currencies of Asia's oil importing countries such as South Korea. Inflation in the Philippines, meanwhile, eased in September from a three-year peak, giving the central bank room to maintain its policy support to help the Southeast Asian nation's economy recover from the pandemic. In Singapore, shares fell 1.4% after the previous day's rally. The city-state's stock exchange operator was the biggest drag, falling nearly 3% ahead of an annual general meeting on Thursday, while real estate stocks also weighed. Ongoing debt troubles at China's second-largest real estate developer China Evergrande also overshadowed trading in emerging markets after the debt-laden company missed an interest payment on an offshore bond for the second time last week. Local media said on Monday that Evergrande is set to raise more than $5 billion by selling a majority stake in its property management arm, in what would be its largest asset sale yet. The company has $300 billion of debt. Chinese markets are closed for a holiday until Thursday. HIGHLIGHTS: ** Frasers Logistics & Commercial Trust and Mapletree Logistics Trust among the top losers in Singapore ** Indonesian 10-year benchmark yields down 0.8 basis points at 6.325% ** Australia's central bank sticks with low rates, dodges high house prices Asia stock indexes and currencies at 0325 GMT COUNTRY FX FX FX INDEX STOCKS STOCKS RIC DAILY % YTD % DAILY % YTD % Japan -0.22 -7.08 -2.77 0.78 China - +1.25 - 2.74 India 0.00 -1.68 0.00 26.53 Indonesia +0.07 -1.51 -0.29 5.77 Malaysia -0.12 -3.76 0.15 -6.30 Philippines +0.21 -5.30 -0.22 -2.72 S.Korea +0.15 -8.48 -1.63 3.36 Singapore -0.10 -2.71 -0.82 7.76 Taiwan -0.18 +2.03 0.06 11.44 Thailand -0.06 -11.36 -0.08 11.30 (Reporting by Nikhil Kurian Nainan in Bengaluru)