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EM ASIA FX-Fragile Asia FX set for weekly losses on rising dollar, US yields

(Adds text, updates prices)
    * Rupee up as India's heavy intervention spotted
    * Yuan gains after China intervention suspected on Thursday
    * Ringgit, rupiah lead weekly emerging Asia FX losses

    By Jongwoo Cheon
    SINGAPORE, Nov 25 (Reuters) - Most emerging Asian currencies
saw marginal gains on Friday but   looked set for weekly losses
as the stronger dollar and higher U.S. Treasury yields prompt
global investors to dump regional assets.
    The Indian rupee led daily gains as the central
bank intervened heavily in morning trade when the currency fell
to around 68.65 per dollar, approaching the record low hit in
the previous session, traders said. 
    China's yuan edged up from 8-1/2-year lows hit on
Thursday as some investors and companies sold dollars to take
profits amid caution that state-owned banks could provide dollar
liquidity near the 6.92 level to stabilise the currency. 
    The yuan's rebound prompted traders to cut some of their
bearish bets on the South Korean won and the
Singapore dollar.
    Emerging currencies also got a breather on Friday as the
U.S. dollar stepped back against a basket of six major
    Still, the outlook remained bleak as the U.S. 10-year
Treasury yield hovered around its highest since July
2015. The greenback was not far from a 13-1/2-year peak marked
on Thursday.    
    Treasury yields have been rising since Donald Trump won the
Nov. 8 U.S. presidential election as his policies of more
government spending are seen pushing up Washington's fiscal
deficit and inflation.
    A recent series of solid U.S. economic data has also spurred
views that the Federal Reserve may raise interest rates more
next year after a widely expected hike in December.
    Asia also faces further pressure from Trump's protectionist
stance on trade due to the region's reliance on exports.
    "Regional currencies are likely to weaken further as the
dollar has room for more appreciation, given larger fiscal
spending, increasing pressure on trade and U.S. policy of the
repatriation of overseas profits," said Jeong My-young, Samsung
Futures research head in Seoul.
    "Technically, the USD is seen excessively bought, while all
other currencies are seen excessively sold. But markets are
almost ignoring possibilities of corrections of the trend."
    For the first time in nine months, sentiment on all of the
nine emerging Asian currencies covered in a Reuters poll has
turned bearish, according to the survey published on Thursday.
    For the week, Malaysia's ringgit and Indonesia's
rupiah led depreciation among their regional peers.
    The ringgit on Friday fell to 4.4640 per dollar, its weakest
since Sept. 29, 2015, when the currency hit a 17-year low.
    The Malaysian currency has lost 1 percent against the dollar
so far this week as the government's bond prices 
    "It is better to keep long USD holdings. Maybe there is
another 2-3 percent to run until the year-end," said a senior
Malaysian bank trader in Kuala Lumpur, when asked whether to buy
the dollar against the ringgit.
    The rupiah also has slumped 1 percent this week as foreign
investors kept selling Jakarta stocks and Indonesia's
government bonds.
    India's rupee has skidded 0.5 percent so far this week. The
currency on Thursday touched a record low of 68.8650 per dollar
before recovering on intervention. 
    The yuan has fallen 0.4 percent for the week, poised to
suffer a third straight week of depreciation.
    Singapore's dollar has eased 0.4 percent as the
government downgraded its economic growth and exports for this
year, reinforcing worries about a possible recession but keeping
the chance of policy stimulus alive. 
    The Philippine peso has slid 0.3 percent so far
this week on continuous equity outflows.
    Change on the day at 0450 GMT
  Currency               Latest bid   Previous day  Pct Move
  Japan yen                  113.51         113.34     -0.15
  Sing dlr                   1.4311         1.4320     +0.06
  Taiwan dlr                 31.915         31.927     +0.04
  Korean won                1178.00        1180.10     +0.18
  Baht                        35.67          35.65     -0.03
  Peso                       49.950         49.980     +0.06
  Rupiah                      13565          13555     -0.07
  Rupee                       68.45          68.73     +0.41
  Ringgit                    4.4600         4.4450     -0.34
  Yuan                       6.9145         6.9180     +0.05
  Change so far in 2016                                     
  Currency               Latest bid  End prev year  Pct Move
  Japan yen                  113.51         120.30     +5.98
  Sing dlr                   1.4311         1.4177     -0.94
  Taiwan dlr                 31.915         33.066     +3.61
  Korean won                1178.00        1172.50     -0.47
  Baht                        35.67          36.00     +0.94
  Peso                        49.95          47.06     -5.79
  Rupiah                      13565          13785     +1.62
  Rupee                       68.45          66.15     -3.36
  Ringgit                    4.4600         4.2935     -3.73
  Yuan                       6.9145         6.4936     -6.09

 (Reporting by Jongwoo Cheon; Editing by Kim Coghill)