EM ASIA FX-Short-covering supports Sing dlr, ringgit; N.Korea hits won

* Sing dlr at 5-wk high; 200-day moving average resisted * Ringgit near 2-mth peak, but vote concerns cut gains * Won down; N.Korea says to restart Yongbyon nuclear reactor (Adds text, updates prices) By Jongwoo Cheon SINGAPORE, April 2 (Reuters) - The Singapore dollar and the Malaysian ringgit rose on Tuesday as investors covered short positions on general U.S. dollar weakness and a firm Chinese yuan, while the won fell after the North Korea said it will restart all its nuclear facilities. The Singapore dollar hit a near five-week high and the ringgit touched its strongest in more than two months, although both of them faced key chart resistance lines. Gains for the two came as the U.S. dollar skidded after softer-than-expected American manufacturing data. Also, China's central bank set the yuan's mid-point at a record high, supporting the yuan and other emerging Asian currencies, analysts and traders said. Enrico Tanuwidjaja, an Asia economist at the Royal Bank of Scotland in Singapore, said regional currencies, especially Southeast Asian units, are expected to strengthen further. "Relative growth and interest rate differentials are in favor of Asian assets. Barring any harsh capital controls, there is room for dollar/Asia FX to go lower," Tanuwidjaja said. "Large domestic base, infrastructure investment potentials, and increasing intra-regional ASEAN trade are factors detaching Southeast Asia from developed market movement," he said. Most Asian currencies have fallen this year, but Southeast Asian units have fared better peers in South Korea, Taiwan and Japan, according to Thomson Reuters data. Some of them such as the Thai baht have appreciated, thanks to continuous capital inflows. SINGAPORE DOLLAR The Singapore dollar rose as much as 0.3 percent to 1.2361 to the U.S. dollar, its strongest since Feb. 28. But it gave up some earlier gains with a 200-day moving average at 1.2363 and market talk of strong offers from model funds and local investors, traders said. The city-state's currency has been closing daily sessions weaker than the average since early March. The currency may see another chart resistance area around 1.2342 and 1.2348, its February highs, even if it strengthens past the long-term average, analysts said. As consumer inflation in February was much higher than expected, investors expect the Singapore central bank to maintain its tightening bias in a policy announcement due this month. "Expectations of an easing bias have faded following the strong CPI data. But there is a support area (for U.S. dollar/Singapore dollar) around 1.2365-1.2340," said BNP Paribas currency strategist Thio Chin Loo in Singapore. Singapore manages monetary policy by letting its dollar rise or fall against the currencies of its main trading partners within an undisclosed trading band. A European bank trader said the local unit may strengthen further - probably to 1.2300 - once the Monetary Authority of Singapore keeps its tightening bias. In October, the MAS maintained its policy of allowing a modest and gradual appreciation of the Singapore dollar with no change to the slope, midpoint and width of the trading band. RINGGIT The ringgit advanced 0.4 percent to 3.0800 per U.S. dollar, its strongest since Jan. 31 and firmer than a current 200-day moving average at 3.0864. It has been closing daily sessions weaker than the average since early March. "Today, we went below a 200-DMA line. It is not good for dollar long positions. There is no reason to buy the dollar," said a Malaysian bank trader in Kuala Lumpur. But the trader said investors stayed wary of the coming national vote following a New Straits Times report that the parliament is expected to be dissolved as early as Wednesday after a cabinet meeting, paving the way for the general election. If parliament is dissolved on Wednesday, nomination of candidates is likely to be later next week, while polling day would be on April 27 at the latest, the New Straits Times said. The ringgit also has a chart resistance around 3.0800 and 3.0830, analysts said. The Malaysian currency had tried to strengthen past the area three times in early February, but it failed, resulting in a drop to 3.1390. WON The South Korean won started the local session stronger on a weaker dollar. But the currency turned lower after Pyongyang's official news agency said the North would restart its shuttered Yongbyon nuclear reactor, a move that could enable it to extract more plutonium to bolster its atomic stockpile for use in nuclear weapons. Foreign investors sold local bonds, putting more pressure on the won, traders said. "Offshore investors are very worried about North Korea issues. They are buying the dollar on dips. Unless the situation eases, it will be difficult to see foreign selling on rallies," said a foreign bank trader in Seoul. The South Korean currency also came under pressure from expectations of dollar demand linked to unwinding of currency hedging in connection with STX Offshore & Shipbuilding's contracts to sell vessels to foreign companies. The ailing shipbuilder has requested financial support from creditors. The news caused interbank speculators to cover short-dollar positions, although traders said they have not seen dollar bids related to the shipbuilder yet. CURRENCIES VS U.S. DOLLAR Change on the day at 0745 GMT Currency Latest bid Previous day Pct Move Japan yen 92.86 93.28 +0.45 Sing dlr 1.2375 1.2399 +0.19 Taiwan dlr 29.868 29.928 +0.20 Korean won 1117.49 1114.80 -0.24 Baht 29.35 29.33 -0.09 Peso 40.87 40.84 -0.06 Rupiah 9738.00 9737.00 -0.01 Rupee 54.30 54.28 -0.04 Ringgit 3.0855 3.0938 +0.27 Yuan 6.2002 6.2080 +0.13 Change so far in 2013 Currency Latest bid End prev year Pct Move Japan yen 92.86 86.79 -6.54 Sing dlr 1.2375 1.2219 -1.26 Taiwan dlr 29.868 29.136 -2.45 Korean won 1117.49 1070.60 -4.20 Baht 29.35 30.61 +4.29 Peso 40.87 41.05 +0.45 Rupiah 9738.00 9630.00 -1.11 Rupee 54.30 54.99 +1.27 Ringgit 3.0855 3.0580 -0.89 Yuan 6.2002 6.2303 +0.49 (Additional reporting by Yena Park in SEOUL, Reuters FX Analyst Krishna Kumar and IFR Markets Catherine Tan; Editing by Richard Borsuk)