【city of woodruff sewer pay bill】EM ASIA FX-Most Asian currencies weaken as growth fears set off 'flash crash'

* Japanese yen surges 1.6 pct

* Korean won weakens as much as nearly 1 pct

* Philippine inflation data due Friday

(Adds text,city of woodruff sewer pay bill updates prices)

By Niyati Shetty

Jan 3 (Reuters) - Most Asian currencies softened against the

dollar on Thursday, with the Korean won leading declines, as

wary investors dashed to safer assets amid deepening global

growth risks.

The won weakened as much as 0.9 percent at one

point to 1,128.40 per dollar, its lowest in two weeks, before

paring some losses.

Aggravating worries about cooling global growth, Apple Inc

on Wednesday issues a rare revenue warning and cut its

quarterly sales forecast, citing slowing growth in emerging

markets and weak sales in China.

The news helped trigger a 'flash crash' in currency markets,

with the Japanese yen soaring 1.6 percent versus the

greenback, which has been hobbled by a U.S. government shutdown.

"Emerging market currencies weakened amid intensified risk

aversion," said Qi Gao, FX Strategist (EM Asia) at Scotiabank.

"The yen rallied as it is a traditional safe-haven currency."

On Wednesday, data showed weaker factory activity across

much of Asia in December as the Sino-U.S. trade war dampened

export demand.

The Taiwan dollar and the Indian rupee

fell 0.3 percent each, while the Chinese yuan and the

Malaysian ringgit were marginally weaker.

Elsewhere, the Philippine peso ticked down ahead

of inflation data due on Friday.

Inflation is expected to slow to a six-month low in December

on easing food and fuel prices, a Reuters poll showed, raising

the chances of the central bank leaving interest rates unchanged

this year.

Bangko Sentral ng Pilipinas left its key rate on hold in

December after five successive rate hikes.

INDONESIAN RUPIAH

The rupiah was marginally lower versus the dollar

after December inflation cooled.

Bank Indonesia has less need to hike rates again given that

inflation appears well-contained and dollar weakness is taking

pressure off the rupiah, Mizuho Bank said in a note to clients.

The central bank governor said on Wednesday that he expects

the rupiah's exchange rate to be more stable this year compared

with 2018.

Last year, the rupiah plunged to its weakest since the Asian

financial crisis 20 years ago, before recovering towards the end

of the year on increased capital inflows.

The following table shows rates for Asian currencies against

the dollar at 0502 GMT.

CURRENCIES VS U.S. DOLLAR

Currency Latest bid Previous day Pct Move

Japan yen 107.150 108.87 +1.61

Sing dlr 1.365 1.3663 +0.10

Taiwan dlr 30.895 30.794 -0.33

Korean won 1128.300 1119 -0.82

Baht 32.270 32.25 -0.06

Peso 52.540 52.515 -0.05

Rupiah 14465.000 14445 -0.14

Rupee 70.410 70.17 -0.34

Ringgit 4.140 4.135 -0.12

Yuan 6.875 6.8620 -0.19

Change so far in 2019

Currency Latest bid End 2018 Pct Move

Japan yen 107.150 109.56 +2.25

Sing dlr 1.365 1.3627 -0.16

Taiwan dlr 30.895 30.733 -0.52

Korean won 1128.300 1115.70 -1.12

Baht 32.270 32.55 +0.87

Peso 52.540 52.58 +0.08

Rupiah 14465.000 14375 -0.62

Rupee 70.410 69.77 -0.91

Ringgit 4.140 4.1300 -0.24

Yuan 6.875 6.8730 -0.03

(Reporting by Niyati Shetty in Bengaluru; Editing by Kim

Coghill)

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