* Indonesia stocks rise 1.2%
* Thai baht falls 0.2%
* Bangkok stocks rise 0.6%

By Echha Jain
       April 30 (Reuters) - Most Asian emerging market equities
rose on Tuesday, while currencies were subdued, as investors
awaited a series of economic data due this week and the outcome
of the U.S. Federal Reserve's policy meeting. 
    Indonesian stocks led gains in the region, jumping
1.2%. For the month, however, it is down 0.6% so far, on track
to record a second consecutive monthly drop. 
    Among currencies, the Thai baht depreciated 0.2%
against the greenback, while the Indonesian rupiah
slipped 0.1%. 
    Markets are awaiting a slew of data this week, including the
 European inflation and U.S. labour market reports. Investors
will also focus on the Fed's two-day meeting ending on Wednesday
at which it is expected to stand pat on interest rates but
strike a hawkish tone.
    The Fed "will likely reiterate that they are still seeking
"greater confidence" that inflation is falling 'sustainably
toward' the 2% target. But in reality, recent inflation data has
not provided policymakers with the confidence they are seeking,"
said Christopher Wong, a currency strategist at OCBC. 
    Investors have dialled back expectations for the timing and
magnitude of U.S. rate cuts this year after hotter-than-expected
inflation reports, with markets pricing in a 57.9% chance of a
rate cut in September, CME FedWatch Tool showed.
    Traders are now pricing in 35 basis points of cuts in 2024,
drastically lower than the 150 bps of easing priced at the start
of the year.           
    In Asia, official surveys showed China's manufacturing and
services activity both expanded at a slower pace in April.
    The yuan fell 0.3% while Shanghai stocks
slipped 0.1%. 
    The Philippine peso slipped 0.1% while the Singapore
dollar fell 0.2%.
    Shares in Thailand and Singapore jumped 0.6%
and 0.2%, respectively. 

    HIGHLIGHTS:    
    ** Asia Pacific economies headed for 'soft landing', says
IMF
    ** HSBC Chief Quinn, architect of sweeping overhaul,
announces surprise retirement
    ** Philippines c.bank sees April inflation at 3.5% to 4.3%
    
  Asian stocks and currencies at 0635 GMT                
 COUNTRY  FX RIC        FX     FX    INDEX  STOCKS  STOCK
                     DAILY  YTD %            DAILY  S YTD
                         %                       %      %
 Japan               -0.31  -10.0            1.24   14.77
                                5                   
 China                                            
 India               -0.05  -0.36             0.37   4.58
 Indones             -0.12  -5.38             1.22  -0.41
 ia                                                 
 Malaysi             -0.06  -3.73            -0.20   8.58
 a                                                  
 Philipp             -0.07  -3.96            -0.18   4.77
 ines                                               
 S.Korea                                          
 Singapo             -0.16  -3.13             0.21   1.51
 re                                                 
 Taiwan              -0.04  -5.64            -0.48  13.75
 Thailan             -0.22  -7.79             0.62  -3.21
 d                                                  
 

    
 (Reporting by Echha Jain in Bengaluru; Editing by Christian
Schmollinger and Rashmi Aich)