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EMERGING MARKETS-Asian stocks fall on China's PMI, antitrust push

    * Graphic: World FX rates tmsnrt.rs/2RBWI5E
    * Asian stock markets: tmsnrt.rs/2zpUAr4
    * Chinese PMIs weigh on regional equities
    * Singapore stocks eye best week in seven
    * Indian stock eye best week in 13

    By Harish Sridharan
    April 30 (Reuters) - Most equity markets in emerging Asia
slipped on Friday, brushing off a firmer Wall Street lead as
weaker-than-expected Chinese factory indicators and concerns
about Beijing's clampdown on internet companies weighed on
sentiment.
    Data from the national Bureau of Statistics (NBS) in China 
showed that the official manufacturing purchasing managers'
index (PMI) fell to 51.1 in April from 51.9 in March, as supply
bottlenecks weighed on production and overseas demand softened.

    "Asian markets are likely reacting to disappointment in
China's NBS PMIs as well as restrictions imposed by regulators
on China's big tech companies," said Mitul Kotecha, Chief EM
Asia & Europe strategist at TD Securities. "Worsening COVID news
in some parts of Asia... is also raising concerns about the pace
of regional recovery."
    China's financial regulator on Thursday ordered 13 internet
platforms, including heavyweight Tencent, to
strengthen compliance as part of the country's ongoing antitrust
clampdown on the sector.
    Currencies in Asia were largely subdued. The Philippines
Peso firmed 0.3%, while the South Korean won
weakened marginally. However, analysts were optimistic about
Asian currencies in the near future.
    "In general, EM Asian currencies are likely to advance
further in the run-up to the June 15-16 FOMC meeting as the Fed
maintains its accommodative stance," said Gao Qi, FX Strategist
(EM Asia) at Scotiabank.
    Although stocks in India slumped at the open and
were set to snap a four-day winning streak, they were on course
to mark their best week in 13, even as coronavirus infections
rage across the country. 
    "In the midst of the high infection rate, benchmark equity
indices are off lows after an initial selloff, owing to buoyant
global markets (and) firmer earnings," said Radhika Rao,
Economist at DBS Group Research in a note.
    Stocks in Malaysia fell as they returned to trading
after a holiday on Thursday, while shares in Philippines
and Indonesia also suffered.
    Southeast Asia's largest bank DBS Group Holdings' 
trumped market estimates with a 72% rise in quarterly net
profit, helping the city-state's benchmark index buck the
broader regional decline and rise 0.3%, putting it on track for
its best week in seven.
    Markets in Taiwan were closed for a public holiday. 
    South Korean equities were on course to post their
biggest weekly decline in more than two months, weighed down by
losses in technology stocks.  
    
Highlights
    
    ** In the Philippines, top index loser was SM Prime
Holdings Inc, down 2.28%
    ** DBS Group Holdings Ltd was up 2.35% and the top
gainer on the Singapore STI     
    ** The biggest laggards in the NSE index were Bajaj Finance
Ltd, Axis Bank Ltd and HDFC Bank Ltd
.
  
  Asia stock indexes and currencies at                         
  0356 GMT                                                
 COUNTRY      FX RIC          FX     FX    INDEX  STOCKS  STOCK
                           DAILY  YTD %            DAILY  S YTD
                               %                       %      %
 Japan                     +0.07  -5.14            -0.51   5.34
 China                     +0.06  +0.93            -0.51  -0.46
 India                     +0.00  -1.32            -0.99   5.48
 Indonesia                 -0.04  -2.84            -0.41   0.15
 Malaysia                  -0.07  -2.02            -0.37  -1.52
 Philippines               +0.29  -0.29            -0.64  -9.71
 S.Korea                   -0.10  -2.08            -0.52   9.89
 Singapore                 +0.01  -0.40             0.31  13.64
 Thailand                  +0.03  -3.94            -0.23   9.49
 
 (Reporting by Harish Sridharan in Bengaluru; Editing by Sam
Holmes)
  
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