EMERGING MARKETS-Most Asian stocks weaken on quicker U.S. rate hike bets

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* Regional currencies hurt by strong dollar * South Korean shares fall on BOK rate hike * Malaysian ringgit hits 3-month low By Harish Sridharan Nov 25 (Reuters) - Emerging market shares in Asia fell on Thursday, as investors turned wary of riskier assets after a hawkish tilt from U.S. Federal Reserve policymakers strengthened the dollar and encouraged bets of quicker interest rate hikes. Equities in South Korea dropped, after the country's central bank raised interest rates for the second time since the pandemic began and upgraded its 2022 inflation forecast, bolstering expectations for further policy tightening. Shares in Seoul fell 0.5%, while stocks in Manila , Shanghai, and Singapore dropped 0.1%-0.7%. Supporting the dollar, several Fed policymakers said they would be open to speeding up the taper of their bond-buying program if inflation stayed high, and to move more quickly to raise interest rates, minutes of the central bank's Nov. 2-3 policy meeting showed on Wednesday. Currencies in Asia's emerging markets have come under pressure in recent sessions as a hawkish-leaning Fed shores up support for the greenback, although a firm yuan continues to provide some support to currencies in the region. Traders said the demand for yuan remains strong as companies seek to convert their dollar receipts into the local currency, and this trend is expected to continue for now. The Thai baht, Indonesian rupiah and Taiwanese dollar traded flat to down 0.1%, while the Malaysian Ringgit fell 0.4% and was set to post its eighth straight session of losses. In South Korea, the central bank's monetary policy board raised the policy interest rate by 25 basis points to 1.00%, as expected by 29 of 30 analysts in a Reuters poll. The Bank of Korea is expected to continue its policy tightening cycle with rates tipped to reach 1.50% by the end of 2022, raising concerns about whether households will be able to service their debt repayments. The won weakened 0.3%. "More durable price pressures may mean a continued path of rate tightening, but with household debt still elevated, the pace of tightening will need to be carefully calibrated," analysts at Maybank said in a note. "Given the expected outcome, spillovers to KRW sentiments from the decision was mild overall." In a fresh development in China's property sector crisis, Kaisa Group Holdings Ltd said it wants to extend the maturity of a $400 million bond by a year-and-a-half as part of efforts to avoid a default and resolve a liquidity crisis. Shares of the embattled developer, which resumed trading after suspension on Nov. 5, soared as much as 23.8%. HIGHLIGHTS ** Top gainer on the Jakarta stock index was First Media Tbk PT, up 25% ** In the Philippines, top index loser was Converge Information & Communications Technology Solutions Inc , down 3.7% ** Indian stocks up 0.4%, while the rupee weakens 0.2% Asia stock indexes and currencies at 0642 GMT COUNTRY FX RIC FX FX YTD INDEX STOCKS STOCK DAILY % DAILY S YTD % % % Japan +0.03 -10.51 0.67 7.49 China +0.08 +2.21 -0.16 3.28 India -0.15 -1.94 0.43 25.09 Indonesia -0.12 -1.63 0.56 12.41 Malaysia -0.38 -4.85 -0.18 -6.61 Philippines +0.08 -4.67 -0.67 3.22 S.Korea -0.31 -8.74 -0.47 3.72 Singapore -0.01 -3.46 -0.12 13.34 Taiwan +0.00 +2.49 0.07 19.83 Thailand -0.03 -10.11 -0.06 13.76 (Reporting by Harish Sridharan in Bengaluru; editing by Uttaresh.V)

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