* Indonesian rupiah slips 0.3%
* Philippine peso inches near 58-per-dollar level
* Thai stocks rise 0.4%
* US April CPI data due on Wednesday

By Poonam Behura
       May 14 (Reuters) - Asian emerging market currencies and
stocks were little changed on Tuesday withstanding pressure from
a steady dollar, with investors' focus turning to the
much-awaited U.S. inflation data for more clarity on the
interest rate outlook.
    Traders remained wary ahead of the upcoming core U.S.
inflation data, with consumer prices expected to have risen by
0.3% last month, down from 0.4% in March, according to a Reuters
poll. 
    A slowdown in inflationary pressures from March could boost
wagers the Federal Reserve will cut rates as soon as July, and
could potentially nudge U.S. treasury yields and the greenback
lower. 
    Back in Asia, the Indonesian rupiah slipped 0.3% to
16,130 against the dollar, set for its second consecutive day of
losses.  
    The rupiah has dropped about 4.6% this year and is one of
the worst-performing currencies in Asia. 
    The Philippine central bank is set to announce its monetary
policy decision on Thursday, with expectations leaning towards
no change in interest rates.
    The peso slipped 0.1% to 57.850 per U.S. dollar,
inching closer to the 58-per-dollar level it last touched in
November 2022.
    "We think that BSP could start to intervene if USDPHP spikes
sharply closer to the 58 or 59 levels," analysts at MUFG wrote,
referring to Bangko Sentral ng Pilipinas.
        In South Korea, the won, considered a
"high-beta" currency due to its deep volatility and exposure to
the global economy, edged down 0.1%, hovering at 1370 per
dollar. 
    DBS analysts expect higher profits for Korean chipmakers due
to the AI-driven chip boom to stoke foreign equity inflows and
support the won. 
    The regional equity markets traded in flat-to-low ranges,
and were largely mixed. Thai and Taiwanese
stocks rose 0.4% and 0.2%, respectively. 
    Shares in Indonesia fell 0.2%, while those in
Philippines and S.Korea were flat. 
    In China, weak domestic credit data stoked concerns about
slowing growth world's second-largest economy, while reports
about new U.S. tariffs on its electric vehicles and other
strategic sectors further dented confidence.
    The USD/CNY currency pair rose 0.1% on Tuesday, heading
higher for its third straight session.
    Investors await China's industrial production data and
central bank policy decision due this week. 


HIGHLIGHTS:
    ** China to kick off 1 trillion yuan stimulus bond issues
this week
    ** India's retail inflation eases slightly in April, surge
in food prices continues
    ** Fed to cut rates in September, say nearly two-thirds of
economists


 Asia stock                                                    
 indexes and                                             
 currencies                                              
 at 0420 GMT                                             
 COUNTRY      FX RIC           FX     FX  INDEX  STOCKS  STOCKS
                          DAILY %  YTD %          DAILY   YTD %
                                                      %  
 Japan                      -0.14  -9.82  <.N22  -0.048  14.65
                                          5>             
 China                      -0.06  -1.93  <.SSE   -0.12    5.69
                                          C>             
 India                      +0.02  -0.36  <.NSE    0.08    1.80
                                          I>             
 Indonesia                  -0.31  -4.53  <.JKS   -0.17   -2.55
                                          E>             
 Malaysia                   +0.02  -2.88  <.KLS    0.19   10.40
                                          E>             
 Philippines                -0.07  -4.26  <.PSI   -0.02    2.38
                                          >              
 S.Korea                    -0.07  -5.93  <.KS1    0.01    2.72
                                          1>             
 Singapore                  -0.05  -2.57  <.STI   -0.06    1.90
                                          >              
 Taiwan                     -0.03  -5.20  <.TWI    0.23   16.59
                                          I>             
 Thailand                   +0.07  -7.07  <.SET    0.41   -2.67
                                          I>             
 

    
 (Reporting by Poonam Behura in Bengaluru; Editing by Sonali
Paul)