RPT-EMERGING MARKETS-Most Asian equities, currencies edge higher on rising US rate cut bets

(Repeats to different destination code, no change to text) * Taiwanese dollar and Malaysian ringgit up 0.3% * Singapore Nov core inflation slows to 3.2% y/y * Indonesian, Philippine markets on holiday By Echha Jain Dec 26 (Reuters) - Most Asian currencies and equities strengthened on Tuesday, with the Malaysian ringgit hovering at more than a four-month high, as cooling U.S. inflation bolstered bets the Federal Reserve would cut interest rates soon. The ringgit, the worst performing currency in the region so far, appreciated 0.3% against the dollar and maintained the mid-August high it touched on Friday. The South Korean won advanced 0.7%. Stocks in Thailand, India and South Korea gained between 0.1% and 0.5%. Investors were still digesting data released on Friday that showed U.S. prices fell in November for the first time in more than 3-1/2 years, underscoring the economy's durability. The data came a week after the U.S. central bank held rates steady and policymakers signalled that the historic monetary policy tightening is at an end and lower borrowing costs are coming in 2024. "Decline in core PCE reinforced the view that disinflation trend in US remains entrenched," said Christopher Wong, a currency strategist at OCBC. "Looking on, there is room for Asian FX to recover... as Fed embarks on rate cut cycle in 2024, the higher for longer narrative (U.S. rates) becomes a lesser risk," Wong added. Back in Asia, Singapore's key consumer price gauge slowed to 3.2% in November on the year, in line with expectations, official data showed on Tuesday. Data from Thailand, the Philippines and South Korea earlier this month also showed that inflation eased in November, likely providing central banks a little breathing room in terms of rates. Monetary Authority of Singapore (MAS) is set to review monetary policy settings next month after it changed the frequency of policy reviews from a semi-annual to a quarterly schedule. The Singaporean dollar edged 0.2% higher, while equities were largely unchanged. Meanwhile, Taiwan's dollar gained 0.3%, hitting its highest level since July 20. Stocks in Taipei rose 0.7%. "Looking into 2024, we foresee Taiwan's overall economy to recover stronger underpin by steady domestic demand and rebound of external trade performances," analysts at MIDF Amanah Investment Bank said. China's yuan slipped 0.1% amid rising expectations of further monetary easing by Beijing while equities in Shanghai fell 0.7%. Markets in Indonesia and Philippines were closed for a holiday. HIGHLIGHTS: ** Myanmar's central bank has ordered exporters sending goods outside Asia to deposit foreign earnings in local banks within 90 days ** Japan automakers to invest $4.3 bln in Thailand over 5 years- Thai govt ** Philippine President Ferdinand Marcos Jr. has approved extension of reduced tariffs on rice and other food items until end-2024 to keep prices stable Asia stock indexes and currencies at 0400 GMT COUNTRY FX RIC FX FX YTD INDEX STOCKS STOCK DAILY % DAILY % S YTD % % Japan +0.09 -7.81 -0.12 27.28 China India +0.02 -0.48 0.00 17.92 Indonesia - +0.55 - 5.65 Malaysia +0.33 -4.64 -0.17 -2.92 Philippin - +0.51 - -1.00 es S.Korea Singapore +0.20 +1.37 0.03 -3.39 Taiwan +0.26 -1.13 0.66 25.34 Thailand -0.06 -0.01 0.28 -15.3 4 (Reporting by Echha Jain in Bengaluru)