* Rupiah hits record low of 17,192 a dollar

* MSCI EM Asia set for 3.5% weekly gains

* Malaysia Q1 GDP grows by 5.3%

* IMF says Asia most exposed to energy crisis

By Rajasik Mukherjee

April 17 (Reuters) - The Indonesian rupiah sank to a record low on Friday, while emerging Asia equities were poised for strong weekly gains as investors looked to signs of a near-term resolution to the Middle East war.

The MSCI gauge of EM Asia equities slipped 0.9% from its pre-war levels, but was set to end the week 3.5% higher, lifting April gains to 15.4% after a sharp 14% slump in March.

The broader global EM equities index was also on track for a third straight week of gains, rising about 3%.

In Latin America, the International Monetary Fund and the World Bank resumed dealings with Venezuela, which had been paused since 2019, paving the way for a full IMF assessment of Venezuela's economy for the first time in about two decades.

Back in Asia, the Indonesian rupiah slipped to a fresh lifetime low of 17,192 per U.S. dollar, extending its losses for 2026 to 3%, most of which has come since the Middle East war erupted in late February.

A net oil-importing economy, though its substantial reserves of coal and gas make the country a net energy exporter, Indonesia is exposed to the sharp volatility in oil prices due to the conflict.

"At this point, IDR's downward pressure comes from almost every direction: capital outflow in Indonesian bonds, lack of ammunition from its central bank, and the fact that the country is a net energy exporter in a highly uncertain geopolitical circumstance," said Glenn Yin, director of research at brokerage ACCM.

So far this month, LSEG data shows around 6.07 trillion rupiah ($353.17 million) worth of foreign outflows from Indonesian equities. On Friday, the benchmark was marginally higher, on track to end the week with a gain of more than 2%.

Stocks in South Korea and Taiwan were slightly lower, but headed for weekly gains of more than 5% and 4%, respectively.

In Malaysia, advance estimates showed economic growth slowed in the first quarter from the prior three months. A separate inflation print showed March consumer prices rose in line with the forecast, but accelerated from February.

Equities in Kuala Lumpur were slightly higher in afternoon trading, but were on course to end the week unchanged. The ringgit weakened marginally to 3.9530 per U.S. dollar.

Elsewhere, Thailand's benchmark index shed more than 1% to its lowest since April 7, losing 2.2% so far this week. Stocks in the Philippines declined 0.4%, and were set to end the week 1% lower.

Investors stayed cautious ahead of the weekend, with U.S. President Donald Trump saying more U.S.-Iran talks may take place then.

"There is a slight risk aversion going into the weekend given the tendency for tensions to flare and conflict to escalate when the markets are closed," said Kyle Rodda, senior financial market analyst at Capital.com.

An International Monetary Fund executive warned on Thursday that Asia's reliance on Middle East fuel made it more vulnerable to an energy shock than other regions, with supply shortages due to a prolonged war threatening a severe hit to growth.

HIGHLIGHTS:

** IMF keeps Asia's growth forecasts roughly unchanged from January

** Indonesia to double capital requirement for securities firms, certain asset managers

** S&P to maintain Indonesia's sovereign rating at BBB with stable outlook, minister says

** Australia rules out fuel restrictions after fire at its largest refinery

** Leftist Sanchez vies with far-right former mayor for spot in Peru's runoff vote

Asia stock indexes and currencies at 0411 GMT

COUNTRY FX RIC FX DAILY FX YTD INDEX STOCKS STOCKS

% % DAILY YTD %

%

Japan -0.14 -1.73 -0.93 17.14

China India +0.39 -3.19 0.08 -7.32

Indonesi -0.34 -2.99 0.32 -11.58

a

Malaysia -0.05 +2.58 -0.02 0.55

Philippi +0.05 -1.92 -0.44 -0.26

nes

S.Korea Singapor -0.01 +1.03 -0.23 7.53

e

Taiwan -0.06 -0.43 -0.78 27.20

Thailand -0.14 -1.83 -0.83 17.28

($1 = 17,187.0000 rupiah)