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EMERGING MARKETS-Asian stocks slide on virus curbs worry, S. Korean won eases

    * Graphic: World FX rates tmsnrt.rs/2RBWI5E
    * Singapore shares see worst day in over two-months
    * Philippine stocks up on solid earnings
    * Taiwan's strong economic growth faces chip shortage risk -
ING
    * China, Japan & Thailand markets closed for holiday

    By Anushka Trivedi
    May 3 (Reuters) - Asian stock markets eased on Monday, as
concerns over rising coronavirus cases in the region led to more
curbs and economic pain, while South Korea's won led losses
among currencies due to  the country's reignited tensions with
North Korea.
    In a low-volume trading day as China and Japan's bourses
were closed for a holiday, Singapore, Malaysia
and India shares fell between 0.8% to 1.3%.  
    After identifying a cluster of COVID-19 cases over the
weekend, Singapore tightened social distancing controls and
warned of further action that threatens to derail a nascent
economic recovery in the city-state.
    Singapore's benchmark saw its worst session since
Feb. 26, with manufacturing giant Sembcorp Industries
losing 2.36%. Sembcorp Marine, which is set to be
de-merged from Sembcorp Industries, warned of losses continuing
in fiscal 2021 due to labour shortage.
    "Asia-Pacific markets look set to kick off the week on the
backfoot," said DailyFX strategist Margaret Yang.
    The worsening pandemic situation is making investors assess
the risk of stricter border controls and delays to economies
reopening, she added.
    Malaysia shares also suffered from the reinstatment of curbs
in some parts of the country,.
    Taiwan's index slid 1.3% despite preliminary data
show ing economic growth in the first-quarter was faster than
forecast.
    ING's Greater China chief economist Iris Pang warned that
the island's extreme reliance on exports, mainly semiconductors,
will arrest its growth in the coming quarters as it grapples
with water shortages.
    Philippine stocks jumped 0.5% to be an outlier,
buoyed largely by Metropolitan Bank and Trust's surge
in quarterly net income.
    The South Korean won weakened 0.7% after North
Korea lashed out at the United States and South Korea.
        
    Thailand's financial markets, were closed
for a holiday.
    

HIGHLIGHTS
    ** India reported more than 300,000 new coronavirus cases
for a twelfth straight day
    ** Wilmar International and Singapore Airlines
 also among top losers on Singapore's Straits Times
Index
    ** Won marks biggest intraday percentage drop in more than
one month 
 Asia stock indexes and currencies at 0420 GMT                               
 COUNTRY       FX RIC       FX DAILY %   FX YTD %    INDEX   STOCKS    STOCKS
                                                            DAILY %     YTD %
 India                           +0.00      -1.34             -0.93      3.67
 Indonesia                       -0.14      -2.90             -0.78     -0.51
 Malaysia                        -0.12      -1.90             -0.41     -1.98
 Philippines                     +0.27      -0.19              0.38    -10.43
 S.Korea                         -0.49      -2.83              0.03      9.58
 Singapore                       -0.13      -0.82             -1.32     11.67
 Taiwan                          -0.07      +1.83             -0.98     18.07
 
 (Reporting by Anushka Trivedi in Bengaluru; Editing by Simon
Cameron-Moore)
  
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