* Taiwanese dollar and Malaysian ringgit up 0.3%
* Singapore Nov core inflation slows to 3.2% y/y
* Indonesian, Philippine markets on holiday

By Echha Jain
       Dec 26 (Reuters) - Most Asian currencies and equities
strengthened on Tuesday, with the Malaysian ringgit hovering at
more than a four-month high, as cooling U.S. inflation bolstered
bets the Federal Reserve would cut interest rates soon.
    The ringgit, the worst performing currency in the
region so far, appreciated 0.3% against the dollar and
maintained the mid-August high it touched on Friday. The South
Korean won advanced 0.7%.
    Stocks in Thailand, India and South Korea
 gained between 0.1% and 0.5%.
    Investors were still digesting data released on Friday that
showed U.S. prices fell in November for the first time in more
than 3-1/2 years, underscoring the economy's durability. 
    The data came a week after the U.S. central bank held rates
steady and policymakers signalled that the historic monetary
policy tightening is at an end and lower borrowing costs are
coming in 2024.      
    "Decline in core PCE reinforced the view that disinflation
trend in US remains entrenched," said Christopher Wong, a
currency strategist at OCBC.
    "Looking on, there is room for Asian FX to recover... as Fed
embarks on rate cut cycle in 2024, the higher for longer
narrative (U.S. rates) becomes a lesser risk," Wong added. 
    Back in Asia, Singapore's key consumer price gauge slowed to
3.2% in November on the year, in line with expectations,
official data showed on Tuesday. 
    Data from Thailand, the Philippines and South Korea earlier
this month also showed that inflation eased in November, likely
providing central banks a little breathing room in terms of
rates.
    Monetary Authority of Singapore (MAS) is set to review
monetary policy settings next month after it changed the
frequency of policy reviews from a semi-annual to a quarterly
schedule.
    The Singaporean dollar edged 0.2% higher, while
equities were largely unchanged. 
    Meanwhile, Taiwan's dollar gained 0.3%, hitting its
highest level since July 20. Stocks in Taipei rose 0.7%.
    "Looking into 2024, we foresee Taiwan's overall economy to
recover stronger underpin by steady domestic demand and rebound
of external trade performances," analysts at MIDF Amanah
Investment Bank said.
    China's yuan slipped 0.1% amid rising
expectations of further monetary easing by Beijing while
equities in Shanghai fell 0.7%. 
    Markets in Indonesia and Philippines were closed for a
holiday.
    
    
    HIGHLIGHTS:    
    ** Myanmar's central bank has ordered exporters sending
goods outside Asia to deposit foreign earnings in local banks
within 90 days
    ** Japan automakers to invest $4.3 bln in Thailand over 5
years- Thai govt
    ** Philippine President Ferdinand Marcos Jr. has approved
extension of reduced tariffs on rice and other food items until
end-2024 to keep prices stable 
    
    
  Asia stock indexes and currencies                          
 at 0400 GMT                                            
 COUNTRY    FX RIC        FX  FX YTD    INDEX   STOCKS  STOCK
                       DAILY       %           DAILY %  S YTD
                           %                                %
 Japan                 +0.09   -7.81            -0.12   27.28
 China                                                
 India                 +0.02   -0.48              0.00  17.92
 Indonesia                 -   +0.55                 -   5.65
 Malaysia              +0.33   -4.64             -0.17  -2.92
 Philippin                 -   +0.51                 -  -1.00
 es                                                     
 S.Korea                                              
 Singapore             +0.20   +1.37              0.03  -3.39
 Taiwan                +0.26   -1.13              0.66  25.34
 Thailand              -0.06   -0.01              0.28  -15.3
                                                            4
 

    
 (Reporting by Echha Jain in Bengaluru)