* Most Asian currencies set for weekly losses
* Dollar index pares some gains
* Investors wary as yuan stays near 2007 lows

By Archishma Iyer
       Sept 8 (Reuters) - Asian equities were mostly in the red while
currencies logged some gains on Friday, as markets stayed risk averse following
strong economic data from the United States and continued uncertainty in China. 
    Most Asian currencies, however, were set to mark weekly losses due to a
resilient U.S. dollar, with the Thai baht poised for its worst week
since the beginning of August. 
    The South Korean won was also likely to post its worst week since
Aug. 15, having lost about 1.1% for the week. 
    An uptick in services sector activity in the U.S, lower filing of jobless
claims during the week, along with dim economic data across Europe and Britain
had boosted the safe-haven U.S currency to a near six-month high. 
    The dollar index, which measures the strength of the greenback
against six major rivals pulled back to trade at 104.88 at 0425 GMT, not far
from its previous high of 105.15
    As a result, some Asian currencies rose on the day, with the Philippines
peso climbing 0.2%, while the Singapore dollar, Malaysian ringgit
 and Thai baht rose between 0.1% and 0.2% higher. 
    "For the Singapore dollar and Thai baht, whilst they have opened stronger, I
wouldn't say that gains are significant," Khoon Goh, head of Asia research at
ANZ, said. 
    "I think that's just reflecting the fact that those currencies have actually
weakened quite significantly so far this month. So part of these gains likely
just reflects some positioning changes."  
    Investors also kept a keen eye on the Chinese yuan, after poor
economic data from Asia's largest economy provided more evidence its
post-pandemic recovery is faltering. 
    The Chinese currency was trading at 7.348 per dollar at 0425 GMT, perched at
its lowest in about 16 years and also set to mark its sixth consecutive session
of losses.
    "The stubborn absence of durable China optimism despite less bad than
expected trade data and property boost measures suggest a long China shadow,"
Vishnu Varathan, head, economics & strategy, Asia & Oceania Treasury department
at Mizuho Bank, said. 
    The Taiwan dollar fell about 0.1% in tandem with the yuan, while
the Indonesian rupiah slipped about the same amount. 
    Meanwhile, shares in Singapore, South Korea, Indonesia
and Malaysia were down in a range of 0.2% and 0.6%. 

    HIGHLIGHTS:    
    ** Indonesia's benchmark 10-year bond yield rises to 6.576%
    ** Thai economy may grow as forecast this year - deputy finmin
    ** Philippines posts $4.2 bln trade deficit in July
  Asia stock indexes and currencies at 0425 GMT
 COUNTRY      FX RIC          FX   FX YTD      INDEX  STOCKS  STOCKS
                         DAILY %        %              DAILY   YTD %
                                                           %  
 Japan                     +0.05   -10.94             -1.28    24.81
 China                                                       
 India                     +0.05    -0.54               0.31    9.30
 Indonesia                 -0.13    +1.47              -0.52    0.99
 Malaysia                  +0.06    -5.86              -0.27   -2.63
 Philippines               +0.21    -1.75              -0.08   -5.91
 S.Korea                                                     
 Singapore                 +0.15    -1.74              -0.40   -1.16
 Taiwan                    -0.11    -4.13              -0.15   17.38
 Thailand                  +0.20    -2.74               0.04   -7.05
 
 (Reporting by Archishma Iyer in Bengaluru; Editing by Jacqueline Wong)