RPT-EMERGING MARKETS-Asian currencies edge higher, stocks fall after Fed hints rate cut delays

(Repeats no change to text) * Thai baht up 0.6% * Indonesia April CPI due later in the day * Mainland China markets closed for holiday By Echha Jain May 2 (Reuters) - Asian currencies jumped on Thursday while most equity markets in the region slipped after the U.S. Federal Reserve flagged possible delays to interest rate cuts this year, as investors awaited inflation data from Indonesia due later in the day. The Thai baht was the biggest gainer in the region, appreciating 0.6% against the U.S. dollar, while the Singapore dollar edged 0.1% higher. Among equities, Taiwan stocks fell 0.6% while Philippine stocks slipped 0.8%. Overnight, the Fed held interest rates steady and signalled it is still leaning towards eventual cuts, but put a red flag on recent disappointing inflation readings that could possibly delay rates cuts. Poon Panichpibool, a markets strategist with Krung Thai Bank, said it would be positive for the emerging Asia markets if the Fed starts cutting rates as expected. "However, the pace of rate cut and reasons behind the rate cut decision should be scrutinised carefully as well. For instance, if the Fed aggressively cuts rate due to incoming economic recession, that might not bode well for EM Asia markets," Panichpibool added. Markets are currently pricing in a 55.1% chance of a rate cut in September, according to the CME FedWatch Tool. Back in Asia, the Indonesian rupiah advanced 0.4% while Jakarta stocks slipped 1.3% ahead of the country's inflation data for April due later in the day. South Korea's consumer inflation eased in April for the first time in three months, coming in lower than economists' estimates and supporting market expectations for monetary easing in the latter half of the year. The South Korean won edged 0.4% higher while Seoul stocks slipped 0.2%. Both the Malaysian ringgit and equities in Kuala Lumpur edged up 0.1%. Markets in Mainland China were closed for a public holiday. HIGHLIGHTS: ** Singapore's biggest bank DBS Group's quarterly results trounce forecasts, another record year expected, shares jump ** POLL-Indonesia's economy likely grew 5% in first quarter driven by consumption ** Malaysia plans 13% salary hike for civil servants from Dec amid rising prices Asian stocks and currencies at 0302 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCK DAILY YTD % DAILY S YTD % % % Japan -0.89 -9.49 <.N225 0.07 14.45 > China - -1.99 <.SSEC - 4.37 > India +0.00 -0.26 <.NSEI 0.00 4.02 > Indonesia +0.37 -4.94 <.JKSE -1.26 -1.78 > Malaysia +0.08 -3.69 <.KLSE 0.05 8.40 > Philippin +0.36 -3.76 -0.84 3.01 es S.Korea +0.39 -6.44 <.KS11 -0.15 1.23 > Singapore +0.07 -2.98 0.16 1.78 Taiwan -0.02 -5.57 <.TWII -0.64 13.03 > Thailand +0.60 -7.49 <.SETI -0.10 -3.48 > (Reporting/Compiled by Echha Jain in Bengaluru; Editing by Michael Perry)