* Several EM Asia markets closed for holiday
* China yuan flat, shares fall after weak data
* US retail sales data due on Tuesday in focus

By Archishma Iyer
       June 17 (Reuters) - Emerging Asian currencies slipped in holiday-thinned
trade on Monday, with the Thai baht leading the declines, as the dollar stayed
firm and China data pointed to an uneven recovery in the world's second-largest
economy.
    Trading was dull across Asia as markets were closed in Singapore, Malaysia,
Indonesia, the Philippines and India.
    The Thai baht fell up to 0.5%, tracking weakness in gold prices,
while the South Korean won and the Taiwan dollar traded
marginally lower. 
    "For the Thai baht specifically, there could be some pressures from
gold-related flows as gold prices have moved lower from Friday levels," said
Poon Panichpibool, a markets strategist from Krung Thai Bank.
    Also, political turbulence in Southeast Asia's second-largest economy is
likely to weigh more on its assets, including a court case that could
potentially lead to the prime minister's dismissal.
    "The rise in political uncertainties has already weighed on investor
sentiment, with Thailand's currency and equity markets among the region's worst
performers in the year-to-date," analysts from ANZ said in a client note. 
    Krung Thai Bank's Panichpibool said the baht could face more pressure from
foreign fund outflows as the political turbulence will prevent foreign investors
from buying Thai assets, even as its stocks and bonds seem to have a somewhat
attractive valuation.
    Meanwhile, the Chinese yuan traded flat while shares were
down about 0.6%, as investors digested weaker-than-expected data showing the
property sector remained a pain, and with the People's Bank of China leaving a
key policy rate unchanged as expected.
    Globally, investors are awaiting the U.S. May retail sales numbers on
Tuesday in a data-light week for cues on when the central bank will cut interest
this year. 
    The Federal Reserve last week published updated projections showing that
median forecast from all 19 U.S. central bankers was for a single rate cut this
year.
    At 0525 GMT, the dollar index, which measures the strength of the greenback,
was steady at 105.54.
    Most Asian stock markets inched lower, with Seoul slipping about
0.5%. However, Hyundai Motor surged as much as 6.3% to hit its
highest in more than three years, after the automaker unveiled plans to list its
India unit in Mumbai.
    Among other markets, Bangkok fell 1.2% to hover near its November
2020 lows, Tokyo dropped 2.1% and Taipei slipped 0.1%.  

    HIGHLIGHTS:    
    ** Temasek to invest up to $198 mln in Australian ETF manager Betashares
    ** Philippines cash remittances up 3.2% y/y in April
    ** Taiwan is not seeking war with China, defense minister says
    
    
 Asia stock indexes and currencies at 0525 GMT
 COUNTRY      FX RIC          FX  FX YTD     INDEX    STOCKS    STOCKS
                           DAILY       %             DAILY %     YTD %
                               %                              
 Japan                     -0.04  -10.40               -2.12     13.52
 China                     +0.00   -2.18               -0.60      1.33
 India                         -   -0.42                   -      7.98
 Indonesia                     -   -6.10                   -     -7.40
 Malaysia                      -   -2.69                   -     10.49
 Philippines                   -   -5.64                   -     -1.03
 S.Korea                   -0.04   -6.65               -0.49      3.38
 Singapore                     -   -2.48                   -      1.77
 Taiwan                    -0.05   -5.04               -0.24     25.21
 Thailand                  -0.45   -7.20               -1.15     -8.78
 

 (Reporting by Archishma Iyer and Rajasik Mukherjee in Bengaluru; Editing by
Subhranshu Sahu)