* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
* Singapore shares see worst day in over two-months
* Philippine stocks up on solid earnings
* Taiwan's strong economic growth faces chip shortage risk -
ING
* China, Japan & Thailand markets closed for holiday
By Anushka Trivedi
May 3 (Reuters) - Asian stock markets eased on Monday, as
concerns over rising coronavirus cases in the region led to more
curbs and economic pain, while South Korea's won led losses
among currencies due to the country's reignited tensions with
North Korea.
In a low-volume trading day as China and Japan's bourses
were closed for a holiday, Singapore .STI , Malaysia .KLSE
and India .NSEI shares fell between 0.8% to 1.3%.
After identifying a cluster of COVID-19 cases over the
weekend, Singapore tightened social distancing controls and
warned of further action that threatens to derail a nascent
economic recovery in the city-state. Singapore's benchmark .STI saw its worst session since
Feb. 26, with manufacturing giant Sembcorp Industries SCIL.SI
losing 2.36%. Sembcorp Marine SCMN.SI , which is set to be
de-merged from Sembcorp Industries, warned of losses continuing
in fiscal 2021 due to labour shortage. "Asia-Pacific markets look set to kick off the week on the
backfoot," said DailyFX strategist Margaret Yang.
The worsening pandemic situation is making investors assess
the risk of stricter border controls and delays to economies
reopening, she added.
Malaysia shares also suffered from the reinstatment of curbs
in some parts of the country,.
Taiwan's index .TWII slid 1.3% despite preliminary data
show ing economic growth in the first-quarter was faster than
forecast. ING's Greater China chief economist Iris Pang warned that
the island's extreme reliance on exports, mainly semiconductors,
will arrest its growth in the coming quarters as it grapples
with water shortages.
Philippine stocks .PSI jumped 0.5% to be an outlier,
buoyed largely by Metropolitan Bank and Trust's MBT.PS surge
in quarterly net income. The South Korean won KRW=KFTC weakened 0.7% after North
Korea lashed out at the United States and South Korea.
Thailand's financial markets .SETI , THB=TH were closed
for a holiday.
HIGHLIGHTS
** India reported more than 300,000 new coronavirus cases
for a twelfth straight day ** Wilmar International WLIL.SI and Singapore Airlines
SIAL.SI also among top losers on Singapore's Straits Times
Index .STI
** Won marks biggest intraday percentage drop in more than
one month
Asia stock indexes and currencies at 0420 GMT
COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS STOCKS
DAILY % YTD %
India INR=IN +0.00 -1.34 .NSEI -0.93 3.67
Indonesia IDR= -0.14 -2.90 .JKSE -0.78 -0.51
Malaysia MYR= -0.12 -1.90 .KLSE -0.41 -1.98
Philippines PHP= +0.27 -0.19 .PSI 0.38 -10.43
S.Korea KRW=KFTC -0.49 -2.83 .KS11 0.03 9.58
Singapore SGD= -0.13 -0.82 .STI -1.32 11.67
Taiwan TWD=TP -0.07 +1.83 .TWII -0.98 18.07