EM ASIA FX-US data, earnings power Asia FX; won hits 1-yr high

* S.Korean exporters lift won; 1,100/dlr eyed

* Taiwan dlr at 5-mth high on foreign financial inflows

* Philippine peso, ringgit up on interbank speculators

(Adds text, updates prices)

By Jongwoo Cheon

SINGAPORE, Oct 16 (Reuters) - South Korea's won hit a near

one-year high on Tuesday as appetite for emerging Asian

currencies improved after stronger-than-expected U.S. corporate

earnings and retail data slightly eased concerns about the

recovery in the world's top economy.

Further gains were, however, seen limited as Asia's

economies remain under pressure because of weaker demand abroad,

with investors awaiting China's third quarter gross domestic

product growth data this week.

The won found support from exporters including

shipbuilders, while the Taiwan dollar hit a five-month

high peak on inflows from foreign financial institutions.

The Philippine peso and the Malaysian ringgit

rose as interbank speculators reduced dollar positions.

"Market sentiment got skewed to risky assets including Asian

currencies as solid U.S. retail sales data and corporate

earnings eased worries about a slowing global economy," said

Jeong My-young, Samsung Futures research head in Seoul.

"But I wonder how much further the risk appetite lifts Asian

currencies higher from here. Emerging Asian economies have not

secured strong growth momentum yet," Jeong added.

China will release third-quarter economic growth on Thursday

amid sustained concerns over sluggish expansion in the world's

second-largest economy. Those worries have put pressure on

currencies of emerging Asian countries, which heavily rely on

exports for economic growth.

WON

The won advanced to 1,106.0 per dollar, its strongest since

Oct. 31, 2011 on demand from exporters such as shipbuilders.

Hyundai Heavy Industries Co said it had won a

3.5 trillion Korean won ($3.15 billion) order from Saudi

Electricity Co to build a thermal power plant.

The South Korean currency gathered rising momentum as

onshore and offshore investors chased it once it breached 1,110,

which they had expected the authorities to defend.

The South Korean currency is seen heading to 1,100, the

previous high and a psychological resistance, as it strengthened

past 1,109.4, the 61.8 percent Fibonacci retracement of its

depreciation last year.

TAIWAN DOLLAR

The Taiwan dollar strengthened to 29.170 to the U.S. dollar,

its firmest since May 2 on inflows from foreign financial

institutions after solid U.S. data.

But interbank speculators booked profits on caution over

possible intervention by the central bank, although it has not

been spotted buying the greenback yet.

The position adjustments prevented the local currency from

staying firmer than 29.200, dealers said.

PHILIPPINE PESO

The Philippine peso gained as interbank speculators cut

dollar holdings on improving risk appetite after stronger than

expected earnings from Citigroup.

The peso's gains were capped for now by caution over

possible intervention by the central bank and expectations of

outflows linked to DBS Group's sale of its stake in

Bank of Philippine Islands.

Still, some dealers expect the peso to rise further, given

better risk sentiment and the country's stronger economic

fundamentals.

"Any dollar's rally will be good chance to reinstate short

positions and a break of 41.36 and 41.30 would signal further

downside towards 41.00," said a European bank dealer in Manila.

"The DBS deal would surely delay downside and buy the BSP

some time. But with the U.S. showing signs of a recovery and the

EU risk tapering off, the dollar should trade lower," he added,

referring to Philippines' central bank.

RINGGIT

The ringgit rose against both the U.S. dollar and the

Singapore dollar.

The Malaysian currency gained versus the neighboring local

unit as investors took profit from the city-state's unit,

dealers said.

On Friday, the Singapore dollar hit a near one-month high

versus the ringgit after the Monetary Authority of Singapore

unexpectedly kept to its tight monetary stance.

CURRENCIES VS U.S. DOLLAR

Change on the day at 0650 GMT

Currency Latest bid Previous day Pct Move

Japan yen 78.85 78.63 -0.28

Sing dlr 1.2204 1.2219 +0.12

Taiwan dlr 29.205 29.345 +0.48

Korean won 1106.80 1110.50 +0.33

Baht 30.65 30.69 +0.13

Peso 41.36 41.46 +0.23

Rupiah 9580.00 9585.00 +0.05

Rupee 52.82 53.02 +0.36

Ringgit 3.0470 3.0580 +0.36

Yuan 6.2650 6.2707 +0.09

Change so far in 2012

Currency Latest bid End prev year Pct Move

Japan yen 78.85 76.92 -2.45

Sing dlr 1.2204 1.2969 +6.27

Taiwan dlr 29.205 30.290 +3.72

Korean won 1106.80 1151.80 +4.07

Baht 30.65 31.55 +2.94

Peso 41.36 43.84 +6.00

Rupiah 9580.00 9060.00 -5.43

Rupee 52.82 53.08 +0.49

Ringgit 3.0470 3.1685 +3.99

Yuan 6.2650 6.2940 +0.46

($1 = 1110.5250 Korean won)

(Additional reporting by Miao-jung Lin in TAIPEI, Yena Park in

SEOUL and IFR Markets' Catherine Tan; Editing by)

Source: http://news.yahoo.com/em-asia-fx-us-data-earnings-power-asia-074540228--finance.html

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