* BOT holds at 1.00%, as expected

* Thai stocks extend gains, baht weakens slightly

* Peso, rupiah trade near record lows

*

(Updates with afternoon trade)

By Nichiket Sunil

April 29 (Reuters) - Thai stocks extended gains on Wednesday after the

central bank kept the key interest rate unchanged as expected, while the

Indonesian rupiah and the Philippine peso traded at record lows as dwindling

hopes of a Middle East peace deal raised uncertainty over the net oil importing

nations' outlook.

The Philippine peso slid 0.9% to an all-time low of 61.06 per U.S.

dollar. The currency, which has fallen for eight straight sessions, is only

ahead of the Indian rupee - Asia's worst performing currency so far this

year.

The Indonesian rupiah traded at 17,320 per U.S. dollar, not far from

an all-time low of 17,335 per dollar hit earlier in the session.

Higher energy prices due to the Iran conflict have cloudedthe growth outlook

for net oil importing nations. For Indonesia, elevated fuel costs add to the

growing list of concerns among foreign investors, including worries about the

country's fiscal and governance health.

"The longer the standoff between the U.S. and Iran, the tighter the oil

market, and oil prices will have to be re-priced higher," said Christopher Wong,

a currency strategist with OCBC.

"Ultimately, this can weigh on Asia excluding-Japan momentum, especially for

oil-sensitive currencies, including the peso, rupiah, and baht."

Stocks in Thailand added minor gains after briefly pulling back as

the central bank held rates, as expected, at 1.00%, the lowest level in more

than three years. It had cut the rate at its previous meeting in February.

"It seems like the Bank of Thailand will likely be in wait-and-see mode as

staying on hold could mean the BOT has more flexibility to adjust its monetary

policy amidst the highly uncertain nature of the Middle East situation," said

Poon Panichpibool, markets strategist at Krungthai Bank.

Panichpibool expects the Middle East crisis to ease within the second

quarter, prompting the gradual recovery of transportation through the Strait of

Hormuz. The BOT could stay on hold through 2026 and 2027, he added.

The Thai baht, meanwhile, weakened to 32.62 per dollar, and has

lost 3.6% so far this year .

Stocks in the region traded mixed. Taiwan equities were last down

0.6%, cutting losses from earlier in the session, while South Korean stocks

continued their ascent, gaining 0.7% to trade near all-time high.

Singapore stocks fell 0.5% and were set for the sixth straight

session of losses, while equities in Manila climbed 0.7%, breaking a

five-session losing streak.

HIGHLIGHTS:

** South Korea exports seen rising sharply again in April on chip boom:

Reuters poll

** Big Chinese tech firms scramble to secure Huawei AI chips after

DeepSeek V4 launch, sources say

** Sinopec refinery utilisation drops, but chemical exports rise due to Iran

war

Asia stock indexes and currencies

at 0743 GMT

Japan -0.03 -1.88 15.60

-

China India -0.22 -5.15 1.36 -6.92

Indonesia -0.46 -3.59 0.14 -18.10

Malaysia +0.00 +2.71 -0.46 2.48

Philippines -0.94 -4.60 0.70 -2.40

S.Korea Singapore -0.02 +0.68 -0.45 4.72

Taiwan -0.13 -0.39 -0.55 35.70

Thailand -0.43 -3.60 0.75 18.39