* US CPI a touch above expectations
* Singapore shares at over 1-week high
* Asian equity markets up except Malaysia

By Rishav Chatterjee
       Sept 14 (Reuters) - Asian emerging currencies and equity
markets rose on Thursday on cautiously optimistic trading after
U.S. inflation data pointed towards the Federal Reserve pausing
interest rate hikes. 
    The South Korean won was one of the major gainers
against the dollar, rising 0.4%, with the benchmark index in
Seoul adding 1% on the back of strength from chip and
battery makers.
    South Korea's central bank said on Thursday it needs to make
coordinated efforts to contain household debt, which is at
levels that could undermine economic growth and financial
stability.
    Overnight data from U.S. showed higher fuel prices had
lifted headline consumer prices by the most in 14 months in
August, for an annual rate of 3.7% that was a touch above
expectations. 
    "A breakdown into the components point to a relatively
benign inflation picture thus far. Sequential measures suggest
that inflation is still cooling," said Eugene Leow, senior rates
strategist at DBS.
    "The CPI print still does not provide sufficient clarity on
Fed action through to the end of the year," Leow added.
    ANZ analysts said in a note viewed the Fed to be done with
its tightening cycle, although there was some risk of further
hikes.
    The Singapore dollar gained about 0.1% while stocks
in its benchmark index jumped 0.5% to the highest level
in more than a week.
    The Thai baht remained relatively unchanged during
the day, even though consumer confidence rose in August, helped
by tourism and following the end of prolonged political
uncertainty, a survey showed. 
    Stocks in Bangkok tracked the broader mood, rising
0.4%.
    Investors will also turn towards the European Central Bank
(ECB) meeting and its new inflation forecasts as Europe
continues to face rising cost pressures coupled with soaring
energy prices.
    "The ECB is expected to keep rates steady, although it will
be a close decision. While headline inflation is sitting just
below the ECB's projection for 2023, core inflation remains more
stubborn," Westpac analysts said.
    The Chinese yuan was steady at 7.2718 per dollar.
    "China will increase bill sales in Hong Kong to soak up yuan
liquidity making it more expensive to short the currency," said
Tapas Strickland, an economist at National Australia Bank.
     "This is the latest in a series of measures undertaken by
the PBOC aimed at stabilising the yuan and to discourage
speculative short positions," Strickland added. 
    Among regional equity markets, Indonesia gained
0.3%, while Taiwan stocks added 1.1%.
    The benchmark index in the Philippines rose 0.5%.
Malaysia was the only laggard in the region with a 0.2%
fall.
    
  Asia stock indexes and                             
 currencies at 0408 GMT                         
 COUNTRY  FX RIC        FX     FX  INDE  STOCK  STOCK
                     DAILY  YTD %     X      S  S YTD
                         %               DAILY      %
                                             %  
 Japan               +0.24  -10.8  <.N2  1.16   26.79
                                7  25>          
 China                           EC>          
 India               +0.05  -0.27  <.NS   0.35  11.24
                                   EI>          
 Indones             +0.10  +1.40  <.JK   0.31   1.55
 ia                                 SE>         
 Malaysi             -0.04  -5.96  <.KL  -0.24  -3.03
 a                                 SE>          
 Philipp             +0.07  -1.80  <.PS   0.52  -5.87
 ines                              I>           
 S.Korea                         11>          
 Singapo             +0.13  -1.42  <.ST   0.52  -0.49
 re                                I>           
 Taiwan              +0.30  -3.65  <.TW   1.07  18.53
                                   II>          
 Thailan             +0.01  -3.07  <.SE   0.38  -7.64
 d                                 TI>          
 
    
    
    
    
    HIGHLIGHTS:    
    ** Thai consumer confidence rises in Aug after end of
political uncertainty
    ** POLL-Indonesia's August trade surplus seen widening to
$1.55 bln
    

    
 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Jamie
Freed)