*

Indonesia stocks rise 1.1%

*

Thai baht falls 0.2%

*

Bangkok stocks rise 0.5%

By Echha Jain

April 30 (Reuters) - Most Asian emerging market equities

rose on Tuesday, while currencies were tepid, as investors

awaited a series of economic data due this week and the U.S.

Federal Reserve's policy meeting.

Indonesian stocks led gains in the region, jumping

1.1%. For the month, however, it is down 0.8% so far, on track

to record a second consecutive month of losses.

Among currencies, the Thai baht depreciated 0.2%

against the greenback while the Indonesian rupiah slipped 0.1%.

Markets are awaiting a slew of data this week, including the

European inflation and U.S. labour market reports. Investors

will also focus on the Fed's two-day meeting ending on Wednesday

at which it is expected to stand pat on interest rates but

strike a hawkish tone.

The Fed "will likely reiterate that they are still seeking

"greater confidence" that inflation is falling 'sustainably

toward' the 2% target. But in reality, recent inflation data has

not provided policymakers with the confidence they are seeking

for," Christopher Wong, a currency strategist at OCBC, said.

Investors have dialled back expectations for the timing and

magnitude of U.S. rate cuts this year after hotter-than-expected

inflation reports, with markets pricing in a 57.9% chance of a

rate cut in September, CME FedWatch Tool showed.

Traders are now pricing in 35 basis points of cuts in 2024,

drastically lower than the 150 bps of easing priced at the start

of the year.

In Asia, official surveys showed China's manufacturing and

services activity both expanded at a slower pace in April.

The yuan slipped 0.2% while Shanghai stocks

rose 0.1%.

The Philippine peso gained 0.1% while the Singapore

dollar slipped 0.1%.

Thai stocks and South Korean equities jumped

0.5% and 0.6%, respectively.

HIGHLIGHTS:

** Asia Pacific economies headed for 'soft landing', says

IMF

** Indonesia minister says removes import restrictions on

some industrial materials

** Heat wave in Southeast Asia closes schools, triggers

health alerts

Asian stocks and currencies at 0319 GMT

COUNTRY FX RIC FX FX INDEX STOCKS STOCK

DAILY YTD % DAILY S YTD

% % %

Japan -0.31 -10.0 1.38 14.93

4

China India +0.00 -0.31 0.00 4.20

Indonesia -0.09 -5.35 1.05 -0.58

Malaysia -0.08 -3.75 -0.04 8.76

Philippin +0.12 -3.77 -0.04 4.91

es

S.Korea Singapore -0.09 -3.06 0.26 1.55

Taiwan +0.06 -5.54 0.13 14.45

Thailand -0.15 -7.72 0.52 -3.30