* Rupiah at lowest in 12 weeks
* China stocks lead gains
* Equities largely mixed

By Roushni Nair
       Jan 25 (Reuters) - The Indonesian rupiah touched a near
3-month low in otherwise muted Southeast Asian currency trade on
Thursday while China's latest move to inject liquidity to
support ailing share prices helped to limit losses for
range-bound equities in the region.
    The Indonesian rupiah had slipped 0.6% by 0355 GMT to
its lowest level since Nov. 3. The Singapore dollar and
the Philippine peso were little changed.
    Investor confidence in the rupiah has faltered amid concerns
ahead of a presidential election on Feb. 14. The country's
central bank has intervened in the foreign exchange market to
ensure a balance is maintained between supply and demand, a
central bank official told Reuters.
    The dollar was holding steady near a six-week high against a
basket of key currencies, as market participants keenly awaited
the release of fourth-quarter U.S. gross domestic product
figures later in the day and the personal consumption
expenditure (PCE) price index on Friday to gauge the Federal
Reserve's monetary policy stance when it meets next week.
    "We expect the USD to remain supported but near-term USD
outlook is more balanced following a recent rebound," analysts
at Bank of Singapore said in a note, adding that the dollar's
latest gains would be seen more as a recalibration than as a new
bullish trend. 
    In Asia, the MSCI's index of emerging market (EM) equities
, which captures large and mid-cap representation
across 24 EM countries, rose 0.6% to a one-week high. 
    Stocks in Taipei and Kuala Lumpur advanced
0.6%, each, although shares in Manila and Singapore
 dipped more than 0.3%.
    Equities in Shanghai rose 2.06%, clocking their
biggest intraday gain since August last year, after the People's
Bank of China decided to slash bank reserves by the most in two
years.
    A report on Tuesday that Chinese authorities are considering
a rescue package to stabilise the slumping stock market has
improved sentiment and helped to provide some relief to the
equities market.
    In Thailand, political tensions rose after Prime Minister
Srettha Thavisin on Wednesday reasserted that the economy is in
crisis, although the central bank governor disagreed with his
outlook.
    The bank's governor told Reuters that the government's quick
stimulus measures would not fix structural issues plaguing
Southeast Asia's second-biggest economy.
    
    HIGHLIGHTS:    
    ** Markets in Malaysia closed for a public holiday
    ** Indonesia c.bank in FX market to ensure balanced
supply-demand 
    ** South Korea's economy grew faster than expected in Q4 
    
  Asia stock indexes and currencies                          
 at 0352 GMT                                           
 COUNTRY   FX RIC          FX     FX    INDEX  STOCKS  STOCKS
                      DAILY %  YTD %            DAILY   YTD %
                                                    %  
 Japan                  -0.10  -4.46           0.049    8.89
 China                                                
 India                  +0.00  +0.11             0.00   -1.27
 Indonesi               -0.41  -2.38             0.14   -0.48
 a                                                     
 Malaysia                   -  -2.94                -    3.40
 Philippi               +0.05  -1.48            -0.37    3.18
 nes                                                   
 S.Korea                                              
 Singapor               -0.03  -1.55            -0.36   -3.03
 e                                                     
 Taiwan                 +0.18  -1.77             0.71    0.40
 Thailand               -0.14  -4.49            -0.59   -3.02
 

    
 (Reporting by Roushni Nair in Bengaluru; Editing by Edmund
Klamann)