EMERGING MARKETS-Thai baht, stocks gain on GDP growth; yuan finds footing

* Asian markets look past China slowdown * Indian rupee hits record low * Thailand's GDP grows 2.2% in Q1 By Riya Sharma May 17 (Reuters) - The baht advanced on Tuesday and shares snapped three days of losses after Thailand's economy grew faster than expected in the first quarter, while currency and equity markets in Asia traded in positive terrain despite looming concerns over global growth. China's yuan edged up from near 20-month lows a day earlier, as the country's largest city moved closer to lifting stifling lockdowns. Thai shares climbed more than 1.0% while the baht was up nearly 0.3% after Thailand's economy grew 2.2% in the March quarter, slightly beating expectations. The government, however, lowered its 2022 economic growth forecast citing higher prices and slower global growth linked to Russia's invasion of Ukraine. Other regional stock markets were broadly higher too, following an improvement in fragile global risk appetite as investors looked past China's dismal monthly activity data on Monday to when Shanghai plans to exit lockdown. "Given that the Chinese economy weakened significantly in April due to COVID-19 lockdowns in some parts of China with both industrial production and retail sales coming in weaker than expectation ... China has stepped up its policy supports in the past week," analysts at OCBC Bank said in a note. Shares in Indonesia and Taiwan edged up 1%each, while shares in India and South Korea also made up lost ground, climbing nearly 0.8% each. "The day ahead will bring focus to a series of comments from Fed members ... and further moderation in growth may continue to show up in the months ahead as the Fed's tightening extends, potentially posing downside risks to equities which remains in a downward trend," said Yeap Jun Rong, market strategist at IG. Singapore's non-oil domestic exports in April revealed a larger-than-expected moderation in trade activities from March, growing 6.4% year-on-year versus consensue of 6.7% growth. Stocks in Singapore inched up 0.4% while the Singapore dollar remained largely unchanged. The greenback slipped from a two-decade high this week while the sliding yuan stabilised, as investors trimmed bets on whether U.S. interest rate rises will drive further dollar gains, giving Asian currencies some respite. South Korea's won led gains among emerging Asian currencies, while the Indian rupee touched a record low amid weakening in offshore markets. HIGHLIGHTS: ** Indian share markets were trading up 0.7% with all eyes on the listing of state-run Life Insurance Corp, the country's biggest IPO, set for later in the session ** Top gainers on Thailand's SETI include AQ Estate PCL up 50%, Indara Insurance PCL up 30%, Castle Peak Holdings PCL up ​23.58% Asia stock indexes and currencies at 0456 GMT COUNTRY FX RIC FX FX INDE STOCKS STOCKS DAILY % YTD % X DAILY YTD % % Japan -0.18 -11.0 <.N2 0.35 -7.47 6 25> China EC> India -0.39 -4.40 <.NS 0.76 -8.02 EI> Indonesi -0.34 -2.80 <.JK 0.75 1.01 a SE> Malaysia +0.05 -5.23 <.KL 0.42 -1.06 SE> Philippi -0.11 -2.82 <.PS 0.39 -8.36 nes I> S.Korea 11> Singapor +0.07 -2.97 <.ST 0.39 2.56 e I> Taiwan +0.24 -6.91 <.TW 1.02 -11.83 II> Thailand +0.29 -3.66 <.SE 1.30 -3.17 TI> (Reporting by Riya Sharma in Bengaluru; Editing by Jacqueline Wong)