March 20 (Reuters) - Asian bonds attracted their largest

monthly inflow in three months in February, helped by

expectations that the U.S. Federal Reserve would cut rates later

this year, and also boosted by the region's strong exports.

Foreign investors accumulated a net $4.41 billion of bonds

in India, South Korea, Malaysia, Indonesia and Thailand last

month, marking their fourth successive month of net buying, data

from regulatory authorities and bond market associations showed.

Demand for Indian bonds soared with a net investment of $2.7

billion, the highest monthly figure since July 2017, buoyed by

their impending inclusion in JP Morgan's emerging market debt

index.

"Rupee sovereign bonds are poised for further gains on

strong foreign inflows, largely frontrunning the upcoming bond

index inclusion," Radhika Rao, a senior economist at DBS Bank

said in a note.

"JP Morgan is due to start the inclusion by June 2024, and

extend over 10 months, with 1% increments on its index

weighting, till it likely reaches 10%," she said.

South Korean bonds attracted a significant $2.59 billion in

February, their largest inflow in nine months, bolstered by a

surge in exports, especially in the semiconductor industry,

which is anticipated to drive economic growth this year.

Thai, Malaysian and Indonesian bonds witnessed foreign

outflows of about $532 million, $249 million and $100 million,

respectively, on a net basis last month.

U.S. central bankers, unlikely to cut borrowing costs this

week, might reveal new economic projections that potentially

indicate a more gradual approach to interest rate cuts and a

later initiation of policy easing than previously forecasted.

"We expect prospects of Fed easing, Asia's improving export

outlook and favourable growth-inflation mix will attract inflows

into the region," Khoon Goh, head of Asia Research at ANZ, said.