EM ASIA FX-Yuan slide drags Asia FX down, rupiah hits 7-week low

(Updates prices. For midday report, double-click

)

SINGAPORE, April 23 (Reuters) - Most emerging Asian

currencies fell on Wednesday as the Chinese yuan extended its

recent decline to a 16-month low, while the Indonesian rupiah

touched its weakest level in more than seven weeks due to

increasing month-end dollar demand.

Regional currencies barely reacted to a closely-watched

Chinese manufacturing survey showing continued weakness in the

economy. Although factory activity showed an overall contraction

for the fourth straight month in April, the pace of decline

eased slightly, the HSBC/Markit flash Purchasing Managers Index

showed.

The rupiah lost more than 1 percent as Indonesian

importers bought the dollar for month-end payments, while

custodian banks joined bids for the greenback, traders said.

Some foreign banks such as Japanese lenders purchased

dollars to repatriate earnings from dividends, according to

traders.

The Philippine peso dipped as investors covered

dollar-short positions and the five-year bond yield

rose to 3.979 percent, its highest since March 3.

Offshore funds sold the South Korean won.

Spot yuan hit its weakest since December 2012 as

companies bought dollars to hedge long yuan positions.

The renminbi's weakness weighed on the Singapore dollar

and the Malaysian ringgit, which are often

used as a proxy to bet on yuan moves.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0800 GMT

Currency Latest bid Previous day Pct Move

Japan yen 102.50 102.62 +0.11

Sing dlr 1.2565 1.2556 -0.07

Taiwan dlr 30.310 30.303 -0.02

Korean won 1039.05 1037.70 -0.13

Baht 32.34 32.34 +0.00

Peso 44.73 44.54 -0.44

Rupiah 11627.00 11515.00 -0.96

Rupee 61.13 60.76 -0.61

Ringgit 3.2680 3.2670 -0.03

Yuan 6.2399 6.2375 -0.04

Change so far in 2014

Currency Latest bid End prev year Pct Move

Japan yen 102.50 105.28 +2.71

Sing dlr 1.2565 1.2632 +0.53

Taiwan dlr 30.310 29.950 -1.19

Korean won 1039.05 1055.40 +1.57

Baht 32.34 32.86 +1.61

Peso 44.73 44.40 -0.75

Rupiah 11627.00 12160.00 +4.58

Rupee 61.13 61.80 +1.10

Ringgit 3.2680 3.2755 +0.23

Yuan 6.2399 6.0539 -2.98

(Reporting by Jongwoo Cheon; Editing by Kim Coghill)