* Singapore April core inflation beats forecast
* Thai baht hits lowest level since March 15
* South Korean won appreciates 0.5%

By Jaskiran Singh
       May 23 (Reuters) - Singapore's dollar inched higher on
Tuesday after a key consumer price gauge rose more than expected
last month, while most other Asian currencies traded in a tight
range as expectations that U.S. rates will remain elevated for
longer boosted the dollar.
    The Singapore dollar appreciated 0.2% after data
showed core inflation, which excludes private road transport and
accommodation costs, rose 5% year-on-year in April, while a
Reuters poll of economists had forecast a 4.7% increase.
    Lower inflation for electricity, gas, food, retail and other
goods was offset by higher inflation for travel-related
services, the Monetary Authority of Singapore (MAS) and the
trade ministry said in a joint statement.
    "We continue to expect MAS to keep its monetary policy
parameters unchanged this year as growth slows and inflation
pressures ease," analysts at Goldman Sachs said in a note.
    Elsewhere in Asia, the Thai baht weakened the most
among its peers, falling 0.6% to hit its lowest since March 15,
and on track for a sixth straight session of decline.
    "The major force behind the weakness has been political
uncertainty i.e. whether the coalition government led by the
Move Forward Party will gain enough support from the Senate,"
said Poon Panichpibool, a markets strategist at Krung Thai Bank.
    After the May 14 elections, Thailand's two winning parties
are now working to overcome the built-in advantage for a
military-backed bloc and form a government.
    "In the near term, I expect domestic political factor to
remain a headwind for the Thai baht," Panichpibool said.
    Meanwhile, the Indonesian rupiah and the Philippine
peso were little changed. South Korea's won
appreciated 0.5% and its stocks rose, buoyed by hopes of
a U.S. debt ceiling deal.
    U.S. President Joe Biden and House Speaker Kevin McCarthy
could not reach an agreement Monday on how to raise the U.S.
government's $31.4 trillion debt ceiling, but vowed to keep the
talks alive.
    Further weighing on emerging assets, some Federal Reserve
officials hinted on Monday that the U.S. central bank still has
more to go in tightening monetary policy, helping the dollar hit
a six-month high against the yen.
    Additionally, the Chinese yuan dipped 0.2%, while
stocks in Shanghai dropped close to 1%.
    Stocks in Asia were largely upbeat, with Indonesian
and Singapore equities gaining 0.4% and 0.3%,
respectively, while Thailand shares dipped 0.2%.
    
  Asia stock indexes and                            
 currencies at 0622 GMT                        
 COUNTRY  FX RIC        FX    FX  INDE  STOCK  STOCK
                     DAILY   YTD     X      S  S YTD
                         %     %        DAILY      %
                                            %  
 Japan               +0.06  -5.3  <.N2  -0.35  20.46
                               4  25>          
 China                       9  EC>          
 India               +0.04  -0.0  <.NS   0.42   1.58
                               9  EI>          
 Indones             +0.13  +4.7  <.JK   0.37  -1.40
 ia                            1  SE>          
 Malaysi             -0.31  -3.5  <.KL  -0.21  -5.31
 a                             1  SE>          
 Philipp             +0.08  +0.0  <.PS  -0.10   0.73
 ines                          5  I>           
 S.Korea                     4  11>          
 Singapo             +0.15  -0.3  <.ST   0.25  -0.99
 re                            3  I>           
 Taiwan              -0.16  -0.0  <.TW   0.04  14.50
                               6  II>          
 Thailan             -0.62  -0.1  <.SE  -0.21  -8.55
 d                             7  TI>          
 
    HIGHLIGHTS:
    ** Taiwan c.bank says cautious approach helped it avoid need
for quantitative easing
    ** EXCLUSIVE-Malaysian tycoon weighs selling a stake in $2.7
bln port business -sources
    ** Indonesia, Iran sign preferential trade agreement 

    
 (Reporting by Jaskiran Singh in Bengaluru; Editing by Christian
Schmollinger and Subhranshu Sahu)