*

Indonesia stocks rise 1.2%

*

Thai baht falls 0.2%

*

Bangkok stocks rise 0.6%

(Updates at 0635 GMT)

By Echha Jain

April 30 (Reuters) - Most Asian emerging market equities

rose on Tuesday, while currencies were subdued, as investors

awaited a series of economic data due this week and the outcome

of the U.S. Federal Reserve's policy meeting.

Indonesian stocks led gains in the region, jumping

1.2%. For the month, however, it is down 0.6% so far, on track

to record a second consecutive monthly drop.

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,"

said Christopher Wong, a currency strategist at OCBC.

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 fell 0.3% while Shanghai stocks

slipped 0.1%.

The Philippine peso slipped 0.1% while the Singapore

dollar fell 0.2%.

Shares in Thailand and Singapore jumped 0.6%

and 0.2%, respectively.

HIGHLIGHTS:

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

IMF

** HSBC Chief Quinn, architect of sweeping overhaul,

announces surprise retirement

** Philippines c.bank sees April inflation at 3.5% to 4.3%

Asian stocks and currencies at 0635 GMT

COUNTRY FX RIC FX FX INDEX STOCKS STOCK

DAILY YTD % DAILY S YTD

% % %

Japan -0.31 -10.0 1.24 14.77

5

China India -0.05 -0.36 0.37 4.58

Indones -0.12 -5.38 1.22 -0.41

ia

Malaysi -0.06 -3.73 -0.20 8.58

a

Philipp -0.07 -3.96 -0.18 4.77

ines

S.Korea Singapo -0.16 -3.13 0.21 1.51

re

Taiwan -0.04 -5.64 -0.48 13.75

Thailan -0.22 -7.79 0.62 -3.21

d