* South Korean won down 0.5%, Malaysian ringgit up 0.3%
* Fed policymakers dampen near-term rate cut hopes
* Indonesia to hold rates on Thursday-poll

By Poonam Behura
       Dec 19 (Reuters) - Emerging Asian currencies and stocks
were broadly mixed on Tuesday after Federal Reserve policymakers
tempered U.S. rate cut expectations that had led to an earlier
risk-on rally.
    Malaysia's ringgit, the worst performing currency in
emerging Asia so far this year, was up 0.3% at 4.6780 per
dollar. 
    The Philippine peso was largely steady. It had
touched a one-month low last week.
    The Federal Reserve's dovish tone last week bolstered
emerging assets, but markets were treading cautiously after
pushback on Monday from New York Fed President John Williams and
the Chicago Fed's Austan Goolsbee.
    Markets now await the core personal consumption expenditure
(PCE) index data, scheduled for release on Friday. The data is
expected to provide further clarity on whether inflation has
slowed sufficiently for the Fed to begin easing its monetary
policy next year.
    "Investors have jumped on the bull trend despite the
pushback from Fed officials. But the upcoming PCE data could
impact the dovish pivot," said Poon Panichpibool, a markets
strategist at Krung Thai Bank.
    The South Korean won depreciated 0.5% to 1,305.1
per U.S. dollar, and was set for a three-session losing run. 
    Panichpibool said the won had followed its shares index in
underperforming relative to other emerging market assets after a
recent ban on short-selling dented confidence in the country's
equity market.
    In Southeast Asia, Bank Indonesia (BI) is set to hold its
policy rate meeting on Thursday, with the central bank expected
to maintain its key policy rate for a second month as inflation
remains within target range and the rupiah has stabilised,
according to a Reuters poll.
    Nearly all economists in the poll forecast the next move
from BI would be a cut, likely in the third quarter of 2024.
    The Indonesian rupiah has gained nearly 2% since a
surprise rate hike in October, easing pressure on imported
prices, and is up about 0.4% for the year.
    Equities in Taiwan slumped 0.6%, while those in
Singapore, Indonesia and India rose
between 0.3% and 0.4%.
    In Tokyo, the yen dipped and the Nikkei rose after the Bank
of Japan left its guidance and ultra-easy policy unchanged, in
line with economists' forecasts.  
    

 HIGHLIGHTS:    
    ** Malaysia's exports fell 5.9% in November, more than
expected, government data showed    
    ** LME plans new metals contracts using ShFE prices -
sources
    ** Thai Nov exports rose 4.9% y/y, below forecast - customs
dept
       
  Asia stock indexes and currencies at 0413 GMT
 COUNTRY   FX RIC          FX     FX  INDE  STOCKS  STOCKS
                      DAILY %  YTD %     X   DAILY   YTD %
                                                 %  
 Japan                  -0.55  -8.65  <.N2  1.01%   26.80%
                                      25>           
 China                               EC>           
 India                  -0.12  -0.53  <.NS    0.04   18.35
                                      EI>           
 Indonesi               +0.03  +0.42  <.JK    0.43    4.37
 a                                    SE>           
 Malaysia               +0.28  -5.96  <.KL    0.01   -2.01
                                      SE>           
 Philippi               -0.13  -0.41  <.PS    0.22   -1.17
 nes                                  I>            
 S.Korea                             11>           
 Singapor               +0.02  +0.59  <.ST    0.32   -3.94
 e                                    I>            
 Taiwan                 -0.11  -2.04  <.TW   -0.58   24.13
                                      II>           
 Thailand               -0.11  -1.14  <.SE    0.01  -16.49
                                      TI>           
 
    
 (Reporting by Poonam Behura in Bengaluru; Editing by Jamie
Freed)