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EM ASIA FX-Profit-taking dampens Asia FX; corp dlr demand hurts rupee, rupiah

* Rupee down on private oil companies

* Rupiah lower on month-end corporate dollar demand

* Ringgit falls on caution over 2014 budget

* Won eases on intervention caution, importers

(Adds text, updates prices)

By Jongwoo Cheon

SINGAPORE, Oct 21 (Reuters) - Most emerging Asian currencies

eased on Monday as investors took profit after last week's gains

despite growing expectations the U.S. Federal Reserve may have

to keep its monetary stimulus longer due to the impact of a

government shutdown.

The Indian rupee underperformed on dollar bids from

private oil companies. Indonesia's rupiah fell

on month-end dollar demand from domestic companies.

The Malaysian ringgit slid as investors cut long

positions amid caution before the country's 2014 budget on

Friday, while commercial dollar demand hurt the Thai baht


The dollar stayed around an 8-month low against a basket of

currencies amid views that the Fed will postpone dialing back

its bond-buying programme after a 16-day government shutdown.

"A sluggish dollar is positive for Asian FX. But risks to

the U.S. economy and consequently global economy will weigh on

risk sentiment, which offsets the lift from a weaker dollar,"

said Andy Ji, Asian currency strategist for Commonwealth Bank of

Australia in Singapore.

"In addition, there is still risk of an earlier than

expected tapering or shifting expectations based on better than

expected U.S. economic data," Ji said.

Investors are awaiting September U.S. payrolls due on

Tuesday with forecasts of a job gain of 180,000, although the

data will shed little light on the impact of the policy

paralysis in Washington.

A majority of market players now expect the Fed will begin

reducing stimulus next year, though some analysts believe

tapering of its bond-buying programme is still possible in


Such expectations helped most emerging Asian currencies rise

last week.


The rupiah fell on month-end dollar demand from local

companies and after foreign investors were net sellers in

Indonesian stocks in the previous straight sessions.

The forward onshore market, or Jakarta Interbank Spot Dollar

Rate (JISDOR), was fixed at 11,353 per dollar,

compared with Friday's 11,308.

Some local banks and state-run lenders sold dollars,

limiting the rupiah's downside.

Still, the Indonesian currency is likely to stay under

pressure from increasing dollar bids from domestic companies,

traders said.

"Corporate demand will provide support to the dollar until

next week," said a Jakarta-based trader, adding the rupiah was

expected to trade between 11,350 per dollar and 11,400.


The ringgit slid as investors reduced bullish bets against

both the U.S. dollar and the Singapore dollar.

On a daily chart, the Malaysian currency is seen facing a

resistance line at 3.1468 to the greenback, the 50.0 percent

Fibonacci retracement of its weakness between May and August.

Against the neighbouring city-state's currency, the

Malaysian currency eased as much as 0.4 percent to 2.5563.

Investors are keeping an eye on Malaysia's next fiscal

budget due on Friday.

"MYR has done surprisingly well of late and is not pricing

in much risk of fiscal disappointment in the interim, which

leaves the ringgit exposed to the downside under a market stress

event," Scotiabank said in a note.

Prime Minister Najib Razak won internal voting for top posts

in the ruling party at the weekend but at a cost to his reform



The won eased on dollar demand from South Korean importers

amid sustained caution over possible intervention by the foreign

exchange authorities to stem its strength.

Still, the South Korean currency found relief as foreign

investors were set to extend their buying spree in Seoul shares

to a record 37th consecutive session.


Change on the day at 0430 GMT

Currency Latest bid Previous day Pct Move

Japan yen 98.01 97.77 -0.24

Sing dlr 1.2410 1.2388 -0.18

Taiwan dlr 29.406 29.446 +0.14

Korean won 1061.90 1060.80 -0.10

Baht 31.08 31.02 -0.19

Peso 43.15 43.07 -0.19

Rupiah 11350.00 11308.00 -0.37

Rupee 61.52 61.27 -0.41

Ringgit 3.1660 3.1565 -0.30

Yuan 6.0949 6.0968 +0.03

Change so far in 2013

Currency Latest bid End prev year Pct Move

Japan yen 98.01 86.79 -11.45

Sing dlr 1.2410 1.2219 -1.54

Taiwan dlr 29.406 29.136 -0.92

Korean won 1061.90 1070.60 +0.82

Baht 31.08 30.61 -1.51

Peso 43.15 41.05 -4.87

Rupiah 11350.00 9630.00 -15.15

Rupee 61.52 54.99 -10.61

Ringgit 3.1660 3.0580 -3.41

Yuan 6.0949 6.2303 +2.22

(Additional reporting by IFR Markets' Catherine Tan; Editing by

Jacqueline Wong)