EM ASIA FX-Asia FX weaken; yuan set for longest weekly losing streak in 5 mths

* PBOC fixes midpoint at 3-month low before IMF decision

* Rupee hits 2-year low, suspected intervention cuts losses

* Ringgit up for week on oil, 1MDB's asset sale

(Adds text, updates prices)

By Jongwoo Cheon

SINGAPORE, Nov 27 (Reuters) - Most emerging Asian currencies

eased on Friday and were set to suffer weekly losses on broad

strength in the dollar, with U.S. interest rates expected to

rise for the first time in around a decade later at time when

the European Central Bank is expected to add extra stimulus.

The Chinese yuan was poised to post its longest

weekly losing streak in five months as the central bank set its

daily guidance rate at a three-month low. That came ahead of the

International Monetary Fund's meeting on Monday to decide

whether to include the yuan in its reserve basket.

As the dollar rose against a basket of six major

currencies, especially the euro, in thin trading after

U.S. Thanksgiving Day holiday, emerging Asian units also lost

ground.

The Indian rupee struck a two-year low.

The ECB is expected to opt for more stimulus at a policy

meeting next week, while the U.S. Federal Reserve is widely

expected to raise interest rates next month.

Any stiumulus from the ECB could could help emerging Asian

currencies resist a strong dollar as it may lead investors to

use the extra euro to fish for higher yields in the region,

analysts said.

"The impact from the ECB's move will have different impact

on the dollar and Asian currencies," said Jeong My-young,

Samsung Futures' research head in Seoul.

"If the ECB aggressively eases, that will create more

liquidity. That is not negative to Asia."

YUAN DOWN

The yuan was set to weaken 0.1 percent against the dollar

for the week. Barring a late move to positive territory, it will

be the yuan's fourth week of depreciation and the longest weekly

losing streak since the week ended June 19, according to Thomson

Reuters data.

The IMF is expected to announce on Monday the inclusion of

the renminbi in the Fund's Special Drawing Rights basket. Some

traders expected the Chinese currency to weaken after joining in

the basket partially due to a slowdown in the world's

second-largest economy.

Profits earned by Chinese industrial companies fell 4.6

percent in October from a year earlier, declining for the fifth

consecutive month, data showed earlier.

The yuan's bearish bets rose to a three-month high in the

last two weeks when sentiment towards most emerging Asian

currencies improved, a Reuters poll showed on Thursday.

The Indian rupee underperformed regional currencies having

lost 0.8 percent so far this week on month-end dollar demand

from importers.

Earlier on Friday, the rupee fell to 66.895 per dollar, its

weakest since September 2013 on the greenback's broad strength.

The Indian central bank likely sold the dollar through state-own

banks to stem the rupee's weakness, traders said.

Indonesia's rupiah has slid 0.7 percent throughout

this week on corporate dollar bids for month-end payments.

The Thai baht has eased 0.2 percent for the week,

while the Philippine peso was down 0.1 percent.

In contrast, the Malaysian ringgit has risen 1.2

percent so far this week, helped by China's support and a

rebound in crude prices, which eased concerns over Malaysia's

falling oil and gas revenues.

Adding to support, debt-ridden state fund 1Malaysia

Development Bhd agreed to sell its energy business in

a $2.3 billion cash deal to China General Nuclear Power

Corporation.

China will buy more Malaysian government bonds to help

stabilise its financial markets, Premier Li Keqiang announced,

according to state news agency Xinhua.

The Singapore dollar has also gained 0.2 percent

throughout this week as data showed the economy grew much faster

than initially estimated in the third quarter.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0605 GMT

Currency Latest bid Previous day Pct Move

Japan yen 122.52 122.63 +0.09

Sing dlr 1.4087 1.4085 -0.01

Taiwan dlr 32.610 32.701 +0.28

Korean won 1152.00 1147.30 -0.41

Baht 35.79 35.75 -0.11

Peso 47.17 47.12 -0.10

Rupiah 13745.00 13725.00 -0.15

Rupee 66.71 66.56 -0.22

Ringgit 4.2330 4.2215 -0.27

Yuan 6.3941 6.3896 -0.07

Change so far in 2015

Currency Latest bid End prev year Pct Move

Japan yen 122.52 119.66 -2.34

Sing dlr 1.4087 1.3260 -5.87

Taiwan dlr 32.610 31.718 -2.74

Korean won 1152.00 1099.30 -4.57

Baht 35.79 32.90 -8.07

Peso 47.17 44.72 -5.18

Rupiah 13745.00 12380.00 -9.93

Rupee 66.71 63.03 -5.52

Ringgit 4.2330 3.4965 -17.40

Yuan 6.3941 6.2040 -2.97

(Editing by Simon Cameron-Moore)