*

South Korean won biggest loser among Asian peers

*

China's yuan hits lowest in over one-month

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U.S. dollar index firmed to 106.34

By Roushni Nair

Nov 28 (Reuters) - Asian emerging markets came under selling pressure on Monday, with the South Korean won and China's yuan declining the most, as protests in major Chinese cities over strict COVID-19 curbs dampened the outlook for the world's second-largest economy.

The South Korean won KRW=KFTC weakened 1.1%, snapping a three-day winning streak, while the Indonesian rupiah IDR= fell 0.4% for its biggest percentage loss since Nov. 16.

The Singapore SGD= and Taiwan dollars TWD=TP gave up 0.2% each, while the Philippine peso PHP= slipped marginally.

Investor sentiment was hit by protests in China, a manufacturing powerhouse and Southeast Asia's top trading partner, which flared for a third day and spread to several cities in a blow to risk appetite.

Khoon Goh, head of Asia research at Australia and New Zealand Banking Group, said the protests in China hurt risk sentiment and stoked uncertainty.

"This will continue to be the main driver for Asian markets in the near term until we see how the situation evolves."

Markets are adopting cautious approach due to the "unusual and rare" nature the protests, and on uncertainty about how the Chinese government will respond to the unrest, Goh said.

Analysts at Barclays are expecting a sharp drop in China's economic growth in 2022 to 3.3% from last year's 8.1%.

The Chinese yuan CNY=CFXS retreated 0.4% at 0423 GMT to its lowest level since Oct. 11.

Elsewhere, Thailand's baht THB=TH added 0.2%, while stocks .SETI lost 0.2%, with investors cautiously awaiting the country's central bank decision on interest rates on Wednesday.

The Bank of Thailand will raise interest rates by a modest quarter-point for a third straight meeting amid fragile tourism-reliant growth and signs inflation has started to ease, a Reuters poll of economists found.

Across the region, most stock indexes remained subdued with equities in South Korea .KS11 losing 1.1%, China .SSEC giving up 1%, and Taiwan .TWII slipping 1.1%.

However, stocks in India .NSEI and the Philippines .PSI tacked on 0.1% and 0.6%, respectively.

The Philippines' economic growth may ease next year after a likely expansion of more than 7% this year as global risks linger, but it will remain resilient, a top official said on Sunday.

Separately, South Korea's central bank and government rolled out additional support measures for the local credit market, including a 2.5 trillion won ($1.86 billion) repo operation by the Bank of Korea to be carried out in December.

HIGHLIGHTS:

** Indonesian 10-year benchmark yields rise 3.6 basis points to 6.979%

** Top losers on the Singapore STI .STI include Yangzijiang Shipbuilding (Holdings) YAZG.SI and CapitaLand Investment CAPN.SI

** Markets in Malaysia closed for a holiday Asia stock indexes and currencies

at 0408 GMT

COUNTRY FX RIC

FX

FX INDE STOCKS STOCKS

DAILY % YTD %

X DAILY YTD %

% Japan

JPY=

+0.30 -17.0 <.N2 -0.54 -2.29

2 25>

China

<CNY=CFXS

-0.49 -11.7 <.SS -1.03 -15.66

>

2 EC>

India

INR=IN

-0.06 -9.06 <.NS -0.05

6.63

EI>

Indonesi IDR=

-0.41 -9.44 <.JK -0.18

6.98 a

SE>

Malaysia MYR=

- -6.95 <.KL

- -3.32

SE>

Philippi PHP=

-0.11 -10.1 <.PS

0.56 -6.72 nes

5 I>

S.Korea <KRW=KFTC

-1.08 -11.1 <.KS -0.92 -18.88

>

7 11>

Singapor SGD=

-0.16 -2.03 <.ST -0.40

3.45 e

I>

Taiwan

TWD=TP

-0.20 -10.6 <.TW -1.18 -19.84

3 II>

Thailand THB=TH

-0.06 -6.82 <.SE -0.13 -2.35

TI>

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Graphic: World FX rates Link
Asian stock markets Link

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Reporting by Roushni Nair in Bengaluru
Editing by Shri Navaratnam