* Inflation in South Korea eases in June
* Singapore stocks at an 11-month high
* CPI data from the Philippines, Thailand, Taiwan in focus

By Roshan Thomas
       July 2 (Reuters) - Most Asian currencies depreciated on
Tuesday, with the Philippine peso and South Korean won leading
losses amid a firmer dollar, while stocks struggled for
direction as investors remained cautious ahead of regional
inflation prints.
    The Thai baht, the Philippine peso and the
Indonesian rupiah slipped 0.3% each.
    The dollar index was trading higher at 105.9 amid
heightened bets of Donald Trump winning the U.S. presidency.
    The South Korean won weakened 0.3% while stocks
in Seoul were set to snap a two-day winning streak with
a 0.8% drop, as a rise in U.S. Treasury yields weighed on
sentiment.
    South Korea's consumer inflation weakened to an 11-month low
in June as supply-side pressures eased, an official data showed
on Tuesday.
    The report came in after data on Monday showed inflation in
Indonesia had eased more than expected for June. 
    "It is clear that inflation has moderated gradually over the
past three months, as headline inflation has fallen from a
recent high of 3.1% in February," analysts at ING said in a
client note. 
    "As a result, we believe that the Bank of Korea will shift
its communication tone from hawkish to neutral from its July
meeting," they said.  
        Among other regional markets, Taipei stocks lost
0.7% on the back of falling U.S. chipmakers. Shares of chipmaker
giant Taiwan Semiconductor Manufacturing dropped 0.5%.
    Stocks in Bangkok slumped 0.8%, while those in India
 advanced 0.4%.
    Singapore stocks gained as much as 0.6% to touch
their highest levels in 11 months. 
    Investors now await inflation readings from Thailand, Taiwan
and the Philippines this week to get a clearer picture of the
regional price pressure.
    Traders will also look for cues on rate cuts when U.S.
Federal Reserve Chair Jerome Powell speaks at an event later in
the day. 
    The U.S. Fed could afford to wait for a couple more
inflation and jobs reports before considering a rate cut, said
Lloyd Chan, senior currency analyst at MUFG Bank.
    "So for now, with the Fed not going to do anything on the
policy rate, Asian central banks will have to wait out for the
time-being."
    
           
    HIGHLIGHTS:    
    ** Indonesian 10-year benchmark yields fall to 0.3%
    ** Japan will remain vigilant to forex moves, finance
minister says
    ** European Central Bank not in a hurry to cut rates
further, Lagarde says
   
  Asia stock indexes and                                  
 currencies at 0359 GMT                              
 COUNTRY  FX RIC        FX  FX YTD    INDEX  STOCKS  STOCK
                     DAILY       %            DAILY  S YTD
                         %                        %      %
 Japan               -0.14  -12.75            0.46   18.97
 China                                             
 India               -0.13   -0.41             0.36  11.49
 Indones             -0.31   -5.96             0.04  -1.73
 ia                                                  
 Malaysi             -0.15   -2.69             0.13  10.01
 a                                                   
 Philipp             -0.34   -5.83            -0.17  -0.96
 ines                                                
 S.Korea                                           
 Singapo             -0.02   -2.85             0.52   3.57
 re                                                  
 Taiwan              -0.14   -5.70            -0.68  27.72
 Thailan             -0.26   -7.20            -0.78  -8.94
 d                                                   
 

    
 (Reporting by Roshan Thomas in Bengaluru; Editing by Sherry
Jacob-Phillips)