* Singapore stocks highest since late March 2022
* Indonesian stocks highest since May 20
* Malaysia and South Korea policy decisions on Thursday

By Ayushman Ojha
       July 10 (Reuters) - Most Asian stock markets rose on
Wednesday while regional currencies were mixed, as investors
digested comments from the head of the U.S. Federal Reserve who
provided no fresh clues on the timing of a highly expected rate
cut.
    Fed Chair Jerome Powell said during the first of two days of
his congressional testimony that more good data would strengthen
the case for rate cuts, adding that he was not sending a signal
on the timing, boosting the dollar.
    The South Korean won and Taiwanese dollar
 were down 0.1% and 0.2%, respectively.
    The Philippine peso was 0.3% higher, while the Thai
baht inched up 0.2%.
    Meanwhile, data from China showed that consumer price
inflation came in below expectations while producer price
deflation persisted, pointing to stubbornly weak demand. The
Chinese yuan was largely flat.
    Recent inflation prints in other Asian economies like
Philippines and Thailand showed an easing trend, giving some
leeway to central banks to think of cutting rates.
    Philippine central bank governor said last week Bangko
Sentral ng Pilipinas (BSP) has more scope to cut interest rates
at its next meeting in August after annual inflation slowed in
June.
    Interest rate decisions from South Korea and Malaysia are
due on Thursday. Both the Bank of Korea (BoK) and the Bank
Negara Malaysia are expected to keep their key policy rates on
hold, according to Reuters polls.
    "The BoK has had a tendency to hold (rates) for an extended
period before pivoting to a cut and this should provide the won
with some support," analysts at Maybank wrote.
    Stocks in the region were broadly higher while global
markets await a U.S. consumer price report on Thursday to
potentially get more clues on the Fed's rate outlook.
    Shares in Indonesia were 0.5% higher, at their
highest since May 20, while Singapore stocks rose 0.7% to their
highest level since late March 2022. 
    Singapore shares have gained nearly 3.5% so far in July and
are hovering near their record high after touching it last week.
    "Regional (Singapore) investors chasing yields were likely
buying up Singapore's banks and lifting the index. Even though
shares in the city-state's three big banks, DBS, UOB and OCBC
trade around record highs, dividend yields are more than 5%,"
said Paul Chew, head of research at Phillip Securities Research
in Singapore.
    Elsewhere, Thai stocks rose as much as 0.6%, while
Taiwan shares added 0.5%.
    Stocks in South Korea were largely unchanged, while
Philippine shares fell 0.7%, bucking the trend.
    
    
    HIGHLIGHTS:    
    ** Thai finance minister says economy not good, with growth
worsening
    ** BOJ to trim growth forecast, project inflation staying
around target, sources say
     
    
    
  Asia                                               
  stock                                         
 indexes                                        
   and                                          
 currenc                                        
 ies at                                         
  0506                                          
   GMT                                          
 COUNTRY  FX RIC        FX     FX  INDE  STOCK  STOCK
                     DAILY  YTD %     X      S  S YTD
                         %               DAILY      %
                                             %  
 Japan               -0.07  -12.6  <.N2  0.12   24.40
                                2  25>          
 China                           EC>          
 India               +0.00  -0.33  <.NS  -0.56  11.80
                                   EI>          
 Indones             -0.01  -5.24  <.JK   0.36   0.32
 ia                                SE>          
 Malaysi             +0.06  -2.40  <.KL   0.16  11.16
 a                                 SE>          
 Philipp             +0.35  -4.98  <.PS  -0.72   0.92
 ines                              I>           
 S.Korea                         11>          
 Singapo             +0.08  -2.25  <.ST   0.62   6.39
 re                                I>           
 Taiwan              -0.15  -5.69  <.TW   0.10  33.42
                                   II>          
 Thailan             +0.14  -6.02  <.SE   0.21  -6.58
 d                                 TI>          
 

    
 (Reporting by Ayushman Ojha in Bengaluru; Editing by Kim
Coghill)