*

Equities in Taiwan, S.Korea top losers

*

TSMC down 5%, SK Hynix ( HXSCF ) down 9.2%

*

Malaysia c.bank seen holding its interest rate

*

U.S. jobs data awaited

(Updates as of 0608 GMT)

By Sneha Kumar and Sameer Manekar

Sept 4 (Reuters) - South Korean and Taiwan's equity markets led the

declines in Asia on Wednesday, as an overnight rout in Wall Street tech stocks

spilled over to counterparts in the region, alongside rising investor concerns

over a global economic slowdown.

Asian stock markets were broadly under pressure, with MSCI's gauge of

emerging market equities outside of Japan slumping around 1.9%

to hit the lowest since early August, during an unwind of the yen carry trade.

The index has an aggregate 29% exposure to South Korea and Taiwan, with

Taiwan Semiconductor Manufacturing Co ( TSM ) , the world's biggest

contract chipmaker, making up around 9%.

Taiwanese stocks fell 4.5% while equities in Seoul declined

3%, both hitting their lowest levels in nearly a month.

TSMC dropped as much as 5.5% while South Korea's SK Hynix ( HXSCF ) was

down 9.2% at one point of the trade.

The losses came after global AI darling Nvidia ( NVDA ) was sold heavily

overnight as investors reined in their optimism about the artificial

intelligence sector and U.S. economic growth.

"The harsh sell-off on Wall Street was a stark reminder that September has a

bad rep (reputation) for wavering risk appetite," Vishnu Varathan, head of macro

research, Asia ex-Japan at Mizuho Bank, said in a note.

Elsewhere in Asia, stocks in Malaysia, the Philippines, and

Thailand slipped between 0.1% and 0.5%, with shares in Singapore

declining up to 2% after advancing for four days.

Currencies were largely range-bound in the region, with the ringgit

appreciating 0.4% against the dollar, while the South Korean won and

the Indonesian rupiah adding around 0.2% and 0.3%, respectively.

The Taiwan dollar lost up to 0.4% in its fourth session of

losses, and was trading at its lowest levels since Aug. 19.

Analysts also pointed to a slew of factors including tepid U.S.

manufacturing data, with traders now looking forward to a raft of U.S. data

points including job openings, jobless claims, and non-farm payrolls for clues

on the quantum of the Federal Reserve rate cut expected later this month.

"These could either soothe nerves or exacerbate worries about the U.S.

economy's health. Until we see clearer signs of economic stability, this

volatility could well continue," Shier Lee Lim, lead FX and macro strategist for

APAC at FX payments firm Convera said.

Locally, traders are likely to focus at inflation data from the Philippines

and Thailand, retail sales print in Singapore, and Malaysian central bank's

monetary policy decision later this week.

Bank Negara Malaysia (BNM) is expected to keep its interest rates at the

current 3.00% on Thursday, and will stay there at least through the end of next

year, according to a Reuters poll.

HIGHLIGHTS:

** Thai inflation target range still effective, central bank minutes say

** Indonesia raises $1.8 bln in 10-year, 30-year dollar bonds

** China's services activity expansion slows in August, Caixin PMI show

Asia stock

indexes and

currencies

at 0608 GMT

Japan +0.12 -2.91 -4.28 10.66

China +0.10 -0.22 -0.55 -6.30

India +0.01 -0.90 -0.61 15.61

Indonesia +0.29 -0.52 0.48 5.23

Malaysia +0.44 +5.61 -0.31 14.90

Philippines -0.07 -2.04 -0.52 6.16

S.Korea +0.22 -4.06 -3.04 -2.70

Singapore +0.04 +0.96 -1.51 5.79

Taiwan -0.35 -4.48 -4.52 17.63

Thailand +0.12 -0.16 -0.09 -3.71