*

South Korea's stocks fall about 2%

*

Thai stocks hit one-week low, baht weakens 0.4%

*

Singapore's Straits Times index breaches 4,000 level

*

Indonesian markets closed for national holiday

By Sameer Manekar

March 28 (Reuters) - South Korean and Thailand equities tumbled on Friday after new

U.S. tariffs on auto imports jolted car and auto parts makers, while participants in Asian

emerging markets braced for the reciprocal U.S. tariffs set to take effect next week.

Thailand's benchmark index slid 1% to a one-week low and the baht

weakened 0.4%, as Southeast Asia's biggest auto production centre and an export base for top

car makers stood exposed to the new U.S. auto tariffs.

"The U.S.'s higher import tariffs on automobiles and auto parts will weigh further on

Thailand's ailing economy via an additional drag on the automotive sector," said Charnon

Boonnuch, an ASEAN economist at Nomura, noting that the reciprocal and auto sector tariffs

announced were a downside risk to Thailand's growth outlook.

South Korea's KOSPI toppled nearly 2% in its second straight day of losses,

dragged lower by sharp losses in Hyundai Motor ( HYMTF ) and sister automaker Kia Corp ( KIMTF )

.

The index has lost more than 3% over the past two sessions as the two automakers lost

billions of dollars in value.

"Autos account for 9.4% of Asia's exports to the U.S., but the exposure is highest for

South Korea and Japan," said Sonal Varma, Chief Economist for India and Asia excluding Japan

at Nomura.

Taiwan's benchmark index also slid nearly 2% to its weakest level since

mid-September last year. TSMC, the world's top contract chipmaker, plumbed to its

mid-September low point.

The Korean won and Taiwan's dollar slipped around 0.3% each.

An MSCI gauge of Asia EM equities skidded 0.8%, while a broader gauge of

world EM equities was down 0.7%.

While analysts anticipate limited direct effects from U.S. tariffs on trade-reliant

Southeast Asian economies, they remain vulnerable to reciprocal U.S. tariffs and slower

growth in the global economy and key trading partners.

Singapore's Straits Times index (STI) breached the 4,000 level for the first time,

led higher by a rally in top banks.

This is a "key psychological milestone, which could be interpreted as strong investor

confidence, resilient blue-chip performance, and a favourable economic climate," said Daphne

Tan, Director of Business Development at CMC Markets Singapore.

"Breaking this level suggests a strengthening sentiment, but sustaining it would depend

on global stability and market fundamentals."

Malaysia's ringgit, Singapore's dollar, and the Philippine peso

edged lower. India's rupee appreciated 0.15%, while its Nifty 50 index was

largely unchanged in early trade.

Indonesia's financial markets, remain closed for a national holiday till

April 7.

HIGHLIGHTS:

** Trump Organization eyes multi-billion-dollar projects in Vietnam amid tariff risks

** Philippines' trade deficit narrows to $3.15 bln in Feb

** Indonesia's Widjaja family offers to take Sinarmas Land private in $986 million deal

** Malaysia's 10-year bond yield hovers at 3-week high of 3.781%

Asia stock

indexes and

currencies

as of 0411

GMT

COUNTRY FX FX FX INDEX STOCKS STOCKS

RIC DAILY % YTD % DAILY % YTD %

Japan +0.17 +4.24 -2.34 -7.46

China -0.04 +0.47 -0.71 -0.06

India +0.16 -0.03 -0.11 -0.33

Indonesia - -2.81 - -8.04

Malaysia -0.05 +0.84 -0.25 -6.72

Philippines -0.03 +1.20 0.02 -5.94

S.Korea -0.15 +0.37 -1.84 6.66

Singapore -0.11 +1.82 0.20 5.33

Taiwan -0.24 -1.21 -1.82 -6.43

Thailand -0.40 +1.05 -0.42 -15.52

(Reporting by Sameer Manekar in Bengaluru; Additional reporting by Ankur Banerjee in

Singapore; Editing by Janane Venkatraman

)