* Taiwan stocks jump 1.9% to record high
* Taiwanese dollar, South Korean won gain 0.2%, each
* Malaysia and South Korea policy decisions on Thursday

By Ayushman Ojha
       July 8 (Reuters) - Taiwan stocks surged to a record high
on Monday leading regional equities broadly higher, while
currencies gained on the dollar as investors firmed up
expectations the Federal Reserve will cut interest rates in
September.
    A U.S. inflation report due later in the global day could
bolster easing expectations as headline inflation is forecast to
slow.
    MSCI's index tracking equities in emerging markets
was up 0.5% hovering at its highest since April 2022. It had
jumped 1.7% last week. Trading was thin on Monday as financial
markets in Malaysia were closed. 
        Taiwan shares rose as much as 1.9% boosted by a
global tech rally, with TSMC, the world's largest
contract chipmaker and major supplier to Apple hitting
an all-time high. 
    On a macro side, data on Friday showed Taiwan's June
inflation came in slightly higher-than-expected.
    In the Philippines, shares were up as much as 0.7%,
while Thai stocks added as much as 0.4%.
    Globally, investors await U.S. Federal Reserve Chair Jerome
Powell's address before Congress on Tuesday and Wednesday, and
the crucial consumer price report on Thursday, to assess the
timing of a rate cut.
    In Asia, interest rate decisions from South Korea and
Malaysia are due on Thursday, where expectations are for a hold
for now.
    "The market is eyeing a cut (by Bank of Korea) as early as
August, but we believe it is still conditional as the forex
level remains a concern, and housing prices (have) started to
rise again," analysts at Barclays said.
    Recent inflation data from countries such as Thailand and
the Philippines have shown an easing trend, giving some leeway
to the central banks to cut rates. 
    The Bangko Sentral ng Pilipinas (BSP) has more scope to cut
interest rates at its next meeting in August after annual
inflation slowed in June, its governor Eli Remolona said.
    Elsewhere, South Korean shares inched 0.2% higher,
while Singapore stocks lost 0.2%.
    Regional currencies inched higher as the greenback remained
on the back foot following surprisingly soft U.S. payrolls data
on Friday, suggesting the Fed could start cutting interest rates
as early as September.
    Markets are now pricing in 76% odds for a rate cut in
September, up from 64% a week ago. FEDWATCH
    The Taiwan dollar, the South Korean won
and the Indonesian rupiah gained 0.2%, each.
    The Thai baht inched 0.1% higher, while the
Singapore dollar and the Philippine peso were
largely flat.
    Markets are also awaiting China's inflation data on
Wednesday and advanced gross domestic product estimates from
Malaysia on Friday.
    
    HIGHLIGHTS:    
    ** China's central bank tweaks liquidity operations amid
strong bond demand
    ** Prabowo's free-meal plan stirs investor fears about
Indonesia's finances
    ** Vietnam targeting Q3 GDP growth of 6.5%-7.0%, inflation
below 4.5%, PM says
    
  Asia                                               
  stock                                         
 indexes                                        
   and                                          
 currenc                                        
 ies at                                         
  0511                                          
   GMT                                          
 COUNTRY  FX RIC        FX     FX  INDE  STOCK  STOCK
                     DAILY  YTD %     X      S  S YTD
                         %               DAILY      %
                                             %  
 Japan               +0.12  -12.1  <.N2  0.08   22.36
                                2  25>          
 China                           EC>          
 India               +0.05  -0.28  <.NS  -0.08  11.84
                                   EI>          
 Indones             +0.18  -5.23  <.JK  -0.06  -0.33
 ia                                SE>          
 Malaysi                 -  -2.49  <.KL      -  10.75
 a                                 SE>          
 Philipp             +0.01  -5.35  <.PS   0.66   1.33
 ines                              I>           
 S.Korea                         11>          
 Singapo             +0.05  -2.12  <.ST  -0.22   5.03
 re                                I>           
 Taiwan              +0.23  -5.14  <.TW   1.67  33.57
                                   II>          
 Thailan             +0.12  -6.13  <.SE   0.26  -7.09
 d                                 TI>          
 

    
 (Reporting by Ayushman Ojha in Bengaluru; Editing by Jacqueline
Wong)