EMERGING MARKETS-South Korea shares jump after upbeat data, China down 1%

* Chinese regulator studying measures to manage capital
inflows
* S.Korea Feb factory activity expands at fastest pace in
nearly
11-years

March 2 (Reuters) - South Korean shares stood out from
Asia's emerging markets on Tuesday with a 1.5% jump after
exports and factory activity data reinforced hopes for an
economic recovery.
Shares in Seoul .KS11 came off their highs by the
afternoon, having made a strong start on their re-opening after
being closed for a public holiday on Monday. Taiwan .TWII ,
which was closed on Monday too, also gained over 1%.
The rest of the region edged higher while currencies stuck
to tight ranges against a firmer dollar as the U.S. economic
recovery shows further signs of strength with growing optimism
about the passage of a COVID-19 relief package.
Factory activity in South Korea expanded at its fastest pace
in nearly 11 years in February, while exports expanded for a
fourth straight month underpinning momentum for the
trade-reliant economy, Asia's fourth-largest.
A spike in U.S. Treasury yields over the last month on the
back of higher inflation expectations and the possible end to
cheap money has unsettled investors at a delicate phase in the
global recovery.
"Sentiment may remain choppy as the market continues to
digest the higher U.S. Treasury yield environment," analysts at
OCBC said.
"Nevertheless, given the underlying vaccination progress and
monetary support, the bias remains for the risk-on default to
persist in the longer-term."
Malaysian shares .KLSE , which were dragged lower on Monday
by disposable rubber glove makers, rose half a percent while the
Phillipines .PSI and Indonesia .JKSE were up around a
quarter of a percent each.
Meanwhile, China's blue-chip stocks .CSI300 fell 1.1% and
Shanghai Composite index .SSEC about 1%. The yuan CNY=CFXS
was marginally lower.
The country's top banking and insurance regulator expressed
worry over the risk of bubbles in foreign markets and said it
was studying measures to manage inflows. China will begins its annual session of parliament on Friday
where it is expected to chart a course for economic recovery and
unveil a five-year plan. Elsewhere in Asia-Pacific, after U.S. Treasury yields rose
last week and prompted the Reserve Bank of Australia to buy
bonds, the central bank re-committed on Tuesday to keeping
interest rates at historic lows. HIGHLIGHTS:
** Indonesian 10-year benchmark yields unchanged at 6.59%
** Philippines reports first cases of COVID-19 South African
variant stock indexes and currencies at 0347 GMT
COUNTRY FX RIC FX FX INDEX STOCKS STOCKS
DAILY % YTD % DAILY % YTD %
Japan JPY= -0.01 -3.30 .N225 -0.37 7.69
China CNY=CFXS -0.04 +0.90 .SSEC -0.99 1.24
India INR=IN 0.00 -0.65 .NSEI 0.00 5.58
Indonesia IDR= -0.21 -1.68 .JKSE 0.23 6.26
Malaysia MYR= +0.05 -0.81 .KLSE 0.49 -3.22
Philippines PHP= +0.02 -1.09 .PSI 0.17 -3.58
S.Korea KRW=KFTC +0.09 -3.23 .KS11 1.50 6.43
Singapore SGD= -0.28 -0.78 .STI 0.13 4.68
Taiwan TWD=TP +1.55 +2.18 .TWII 0.88 9.25
Thailand THB=TH -0.20 -1.12 .SETI 0.06 3.62