EM ASIA FX-Currencies mixed on inflow hopes, poor earnings

* Won dips, but exporters limit downside

* Taiwan c.bank wants traders not to short US dlr - dealers

* Sing dlr edges up; intervention talk caps gain

(Adds text, updates prices)

By Jongwoo Cheon

SINGAPORE, Oct 22 (Reuters) - Emerging Asian currencies were

mixed on Monday, as some optimism about regional inflows and

Spain was countered by poor U.S. corporate earnings that pushed

down most Asian stock markets.

The South Korean won slid as foreign investors

sold local stocks and treasury bond futures, but

recovered most of the loss on exporters' demand for settlements.

The Singapore dollar rose slightly as investors

bought in before it reached a chart support level, while

exporters lifted the Taiwan dollar.

Spanish Prime Minister Mariano Rajoy's election victory in

his home region of Galicia on Sunday was seen as removing a

hurdle for Madrid to apply for international aid, in turn

helping the euro rebound.

"With the euro situation looking more stable, investors are

bringing their focus back to yield and growth opportunity, so we

think Asia currencies will remain firm for a while," said Adam

Gilmour, head of FX & derivatives sales at Citigroup in

Singapore.

Gilmour said he prefers the won, the Indian rupee,

the Malaysia ringgit and the Philippine peso

.

Last week, most emerging Asian currencies rose amid signs

that the global economy was stabilising, although some of the

gains were pared by profit-taking on Friday.

On Monday, investors booked more profits from regional

currencies, which tracking stock which weakened on lacklustre

earnings from major U.S. companies.

Players also remained cautious over possible intervention by

Asian central banks to stem appreciation of their currencies.

The Hong Kong Monetary Authority stepped into the currency

market on Saturday for the first time since December 2009 as

capital inflows strengthened the Hong Kong dollar,

causing it to hit the top end of its trading range.

Thailand is pushing ahead with measures to liberalise

capital investments, such as allowing Thais to invest more

easily in foreign securities, the central bank said on Monday.

The country has been relaxing rules on outward capital

investment for some years, one aim being to take upward pressure

off the baht.

Last week, other authorities including central banks of

Singapore, Taiwan and the Philippines were spotted buying

dollars to slow strength in their currencies, dealers said.

WON

The won eased on weaker Seoul shares and amid political

tensions in the Korean peninsula.

But the South Korean currency recovered most of initial

losses on exporters' demand for settlements and as police banned

activists from sending propaganda leaflets across the heavily

militarised border into North Korea.

On Friday, the North said it would attack if Seoul allowed

activists to drop anti-northern leaflets on its territory, in

its most strident warning against its long-time foe for months.

South Korea's defence minister told parliament its military

would retaliate in the event of an attack.

SINGAPORE DOLLAR

The Singapore edged higher with a chart support at 1.2235 to

the greenback, the tenkan line on the daily Ichimoku chart.

The city-state's currency has been closing stronger than the

tenkan line since Oct. 11.

Still, some investors sold the local unit on rallies amid

market talk that the central bank was spotted buying greenbacks

below 1.2200, dealers said.

TAIWAN DOLLAR

The Taiwan dollar rose slightly on exporters' demand for

settlements, especially around 29.250 to the U.S. dollar and

29.270.

But traders hesitated to chase the island's unit on

heightened caution over possible intervention by the central

bank to stem the currency's strength and on weaker domestic

stocks.

Last week, the central bank called on banks to refrain from

shorting U.S. dollar, indicating authorities are getting more

serious about keeping the Taiwan dollar's appreciation in check,

dealers said.

Still, it has not spotted buying U.S. dollar yet, they

added.

BAHT

The baht edged down in a tight range as gold prices fell to

their lowest in more than a month.

Gold is popular among Thai investors, and rises in gold

prices have a tendency to spur dollar-selling and vice versa for

falls, traders said.

A Bangkok-based dealer said the Thai currency was finding

resistance at 30.76 per dollar, its weakest level on Oct. 15.

If the resistance line is breached, the local unit may head

to 30.80, said the dealer, who added that he expects gold prices

to fall further.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0640 GMT

Currency Latest bid Previous day Pct Move

Japan yen 79.63 79.32 -0.39

Sing dlr 1.2210 1.2218 +0.07

Taiwan dlr 29.243 29.286 +0.15

Korean won 1103.95 1103.30 -0.06

Baht 30.72 30.70 -0.07

Peso 41.41 41.39 -0.04

Rupiah 9595.00 9590.00 -0.05

Rupee 53.66 53.84 +0.34

Ringgit 3.0500 3.0505 +0.02

Yuan 6.2539 6.2538 -0.00

Change so far in 2012

Currency Latest bid End prev year Pct Move

Japan yen 79.63 76.92 -3.40

Sing dlr 1.2210 1.2969 +6.22

Taiwan dlr 29.243 30.290 +3.58

Korean won 1103.95 1151.80 +4.33

Baht 30.72 31.55 +2.70

Peso 41.41 43.84 +5.88

Rupiah 9595.00 9060.00 -5.58

Rupee 53.66 53.08 -1.08

Ringgit 3.0500 3.1685 +3.89

Yuan 6.2539 6.2940 +0.64

(Additional reporting by Miao-jung Lin in TAIPEI and IFR

Markets' Catherine Tan; Editing by Richard Borsuk)

Source: http://news.yahoo.com/em-asia-fx-currencies-mixed-inflow-hopes-poor-075100892--finance.html

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