* Indonesia rupiah, South Korean won lead losses * Malaysia’s central bank expected to stand pat on rates * Philippines peso the sole gainer By Archishma Iyer Sept 7 (Reuters) – Most Asian currencies fell on Thursday with the Indonesian rupiah and South Korean won leading declines after data underscored the resilience of the U.S. economy and reinforced the view that interest rates could remain high for longer. The Institute for Supply Management (ISM) said its non-manufacturing PMI rose in August, with new orders firming and businesses paying higher prices for inputs. “US growth outperformance continues to be the theme driving U.S. dollar higher and that was reaffirmed by strong ISM services print last night,” analysts at Saxo Markets wrote in a note to clients. As of 0325 GMT, the dollar index, which measures the strength of the greenback against six major rivals, was steady near a six-month peak at 104.85. The won and the rupiah each lost 0.2% while the Singapore dollar and the Thai baht both dropped 0.1%. Malaysia’s ringgit was largely flat, ahead of the country’s central bank decision later in the day. It is expected to stand pat on rates, according to a Reuters poll. The ringgit is one of the worst performing units in Asia, having slid 5.8% for the year to date. It has also fallen for five consecutive sessions. Analysts from Maybank said they were watching for comments from the Malaysian central bank on inflation risks, “especially in light of recent upside pressures seen in other countries to food prices.” The central bank has previously said it expects inflation to cool further after hitting a two-year low in July. The Philippines peso was the only outlier in the region, gaining about 0.3%. Many Asian equity benchmarks lost ground on Thursday, with shares in Taiwan , South Korea, Philippines and Singapore falling between 0.2% and 1%. HIGHLIGHTS: ** Indonesia’s benchmark 10-year bond yield rises to 6.569% ** POLL-EM currencies face uphill battle as dollar’s supremacy continues ** China’s August exports, imports fall less than expected Asia stock indexes and currencies at 0325 GMT COUNTRY FX RIC FX FX YTD INDEX STOCK STOCKS DAILY % % S YTD % DAILY % Japan +0.02 -11.18 -0.16 27.17 China -0.06 -5.78 -0.71 1.50 India +0.00 -0.50 0.00 8.32 Indonesia -0.23 +1.57 -0.25 1.86 Malaysia -0.02 -5.84 0.04 -2.29 Philippines +0.28 -2.06 -0.96 -5.86 S.Korea -0.20 -5.15 -0.65 13.87 Singapore -0.05 -1.78 -0.20 -1.08 Taiwan -0.06 -4.00 -0.55 17.75 Thailand -0.14 -2.69 -0.04 -7.22 (Reporting by Archishma Iyer in Bengaluru; Editing by Edwina Gibbs)
