EM ASIA FX-Doubts on size, impact of expected BOJ easing weigh on EM FX

* Ringgit dips as crude stays around 3-month lows

* Rupiah hits 2-week low on month-end corp dlr demand

* Yuan firms vs dollar but weakens vs currency basket

(Adds text, updates prices)

By Jongwoo Cheon

SINGAPORE, July 26 (Reuters) - Most emerging Asian

currencies dipped on Tuesday as doubts crept into the market

over whether Japan's central bank would aggressively ease policy

later this week.

Investors were also cautious ahead of the start of a two-day

U.S. Federal Reserve policy view later in the day.

China's yuan edged up against the dollar as the

central bank set its daily guidance rate firmer, but

weakened against a basket of currencies after five days of

rises.

The Malaysian ringgit led regional losses as oil

prices stayed near three-month lows on concerns about

oversupply. Indonesia's rupiah eased to a

two-week low on month-end corporate dollar demand.

The Bank of Japan is expected to take some easing steps at

its two-day meeting that ends on Friday, a Reuters poll showed.

The Japanese government is also planning a spending package

worth about 20 trillion yen ($190.8 billion), government sources

told Reuters last week, although actual public spending will be

far less than the headline number suggests.

The Nikkei newspaper on Tuesday reported the government is

likely to inject 6 trillion yen in direct fiscal outlays into

the economy over the next few years, double the amount initially

planned.

But some doubts have emerged that the BOJ will offer any

meaningful measures, and global investors are growing

increasingly sceptical that further monetary policy easing can

do much to turn stubbornly weak economic growth around.

"Japan seems to provide money to support the domestic

economy rather than increasing global liquidity. That may reduce

yen-carry trades," said Yuna Park, currency and bond analyst at

Dongbu Securities in Seoul.

"Still, emerging Asian currencies are experiencing just a

temporary correction. European central banks will take stimulus

policies in the second half and that will support them."

The European Central Bank and the Bank of England are

expected to ease monetary policy in the wake of looming

Britain's exit from the European Union.

The Fed is widely predicted to stand pat this week, although

investors awaiting any clues on an interest rate hike within

this year, given a recent run of solid U.S. economic data.

RINGGIT

The ringgit slid as some of Malaysian government bond prices

fell.

The Malaysian currency recovered some of earlier losses on

month-end demand from exporters.

RUPIAH

The rupiah eased to 13,150 per dollar, its weakest since

July 12.

The Indonesian currency eased in non-deliverable forwards

markets as leverage funds sold it. Most Indonesia's

government bond prices eased.

The official Jakarta Interbank Spot Dollar Rate,

which the central bank introduced in 2013 to manage exchange

rate fluctuations, was fixed at 13,150, weaker than the previous

13,135.

WON

South Korea's won turned higher as exporters

chased the currency for month-end settlements, especially around

1,140 per dollar.

Offshore funds also bought the won on dips as foreign

investors were set to extend their buying spree in Seoul's main

stock market to a 14th straight session. They absorbed a

combined 3.3 trillion won ($2.9 billion) worth of equities

during the period, the Korea Exchange data showed.

The won started the local session weaker as traders cut

holdings in the currency amid fragile risk sentiment.

Currency traders almost ignored data showing Asia's

fourth-largest economy grew faster than expected in the second

quarter as the lift is seen temporary.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0440 GMT

Currency Latest bid Previous day Pct Move

Japan yen 104.36 105.81 +1.39

Sing dlr 1.3586 1.3622 +0.26

Taiwan dlr 32.142 32.140 -0.01

Korean won 1136.20 1137.00 +0.07

Baht 35.04 35.03 -0.03

Peso 47.195 47.195 +0.00

Rupiah 13145 13135 -0.08

Rupee 67.37 67.35 -0.03

Ringgit 4.0665 4.0620 -0.11

Yuan 6.6777 6.6806 +0.04

Change so far in 2016

Currency Latest bid End prev year Pct Move

Japan yen 104.36 120.30 +15.27

Sing dlr 1.3586 1.4177 +4.35

Taiwan dlr 32.142 33.066 +2.87

Korean won 1136.20 1172.50 +3.19

Baht 35.04 36.00 +2.74

Peso 47.20 47.06 -0.29

Rupiah 13145 13785 +4.87

Rupee 67.37 66.15 -1.81

Ringgit 4.0665 4.2935 +5.58

Yuan 6.6777 6.4936 -2.76

(Reporting by Jongwoo Cheon; Additional reporting by IFR

Markets' Catherine Tan; Editing by Kim Coghill)