* Most Asian currencies largely unchanged
* Taiwan stocks hit record high for 7th day
* Rupiah gains on resuming trading after two days of holiday
* Bank Indonesia to keep rates unchanged - Reuters poll

By Rajasik  Mukherjee
       June 19 (Reuters) - Equities in Taiwan and South Korea
advanced on Wednesday as some of the world's top chipmaking
firms surged on bullish prospects for AI technology, while
shares in Indonesia snapped a losing streak on resuming trade
after a two-day holiday.
    Taiwan's benchmark index rose as much as 2.3% and
hit a record high for the seventh straight session, boosted by
chipmakers like Taiwan Semiconductor Manufacturing co,
after its major client Nvidia soared to a new peak.
    In South Korea, shares gained 1.3% to touch an over
two-year high, with chipmakers Samsung Electronics
and peer SK Hynix, another Nvidia supplier, gaining
1.4% and 2%, respectively.
    Elsewhere in the region, shares in Indonesia gained
up to 0.8% on resuming trade after two days of holiday. The
currency, one of the worst performers so far this year,
appreciated 0.2% to recover off its four-year lows.
    Bank Indonesia (BI) is expected to keep its interest rates
unchanged at its monetary policy meeting on Thursday, according
to a Reuters poll, with economists pushing their first rate cut
expectation to the first quarter of next year.
    However, with the rupiah depreciating and uncertainty
regarding the country's ongoing political transition and fiscal
outlook, some analysts are not ruling out a rate hike by the
central bank.
    "The rate hike is necessary to deliver BI's (Bank Indonesia)
promise on using monetary policy to contain volatility on IDR
(Indonesian rupiah)," said Fakhrul Fulvian, economist at
Trimegah Securities.
    Analysts at MUFG said in a client note "while we expect the
depreciating trend in the Indonesian rupiah will persist, the
recent sharp pace of decline has surprised us", adding that a
rate hike can be expected if the rupiah weakens further.
    Among other currencies, the Thai baht slipped 0.2%,
while the Singapore dollar, the Philippine peso,
the Malaysian ringgit, and the Taiwan dollar
were largely unchanged.    
    Globally, softer-than-expected retail sales data in the
United States reignited hopes of an imminent rate cut by the
Federal Reserve, pushing the dollar lower. It recovered
slightly early on Wednesday.
    "Rate path forward and the timing of the first cut remain
uncertain and officials seem more comfortable to wait a while
more before making the first move," analysts at Maybank wrote in
a client note.

    ** Indonesian 10-year benchmark yields rise 3.4 basis points
to 7.243%
    ** South Korea FX authorities aimed to cap dollar-won at
1,385 - sources
    ** Japan's Nikkei edges up as tech shares get Nvidia bump
 Asia stock indexes and                              
 currencies at 0403 GMT                         
                     DAILY  YTD %     X      S  S YTD
                         %               DAILY      %
 Japan               +0.00  -10.6  <.N2   0.2   15.23
                                4  25>          
 China                           EC>          
 India               +0.05  -0.19  <.NS   0.16   8.58
 Indones             +0.24  -5.87  <.JK   0.50  -6.93
 ia                                SE>          
 Malaysi             +0.13  -2.46  <.KL  -0.11  10.29
 a                                 SE>          
 Philipp             -0.37  -5.61  <.PS   0.03  -1.23
 ines                              I>           
 S.Korea                         11>          
 Singapo             +0.02  -2.33  <.ST   0.31   2.22
 re                                I>           
 Taiwan              +0.02  -5.11  <.TW   1.69  29.07
 Thailan             -0.19  -6.96  <.SE  -0.12  -8.47
 d                                 TI>          

 (Reporting by Rajasik Mukherjee in Bengaluru; Editing by Sonali