* Ringgit gains on overnight crude jump, output data
* Won up on position adjustments ahead of c.bank meeting
(Adds text, updates prices)
By Jongwoo Cheon
SINGAPORE, May 12 (Reuters) - Most emerging Asian currencies
firmed slightly on Thursday as the dollar lost some momentum,
but worries about slowing global growth limited their upside.
Malaysia's ringgit led regional appreciation on
overnight jumps in crude prices and stronger-than-expected
output data, while concerns remained over troubled state fund
1Malaysia Development Berhad (1MDB).
The South Korean won rose as investors squared
some bearish bets ahead of the central bank's monetary policy
meeting on Friday.
The U.S. dollar fell on Wednesday against a basket of
six major currencies after rising 2.7 percent from its 16-month
low hit earlier this month in the previous six sessions.
Investors had little confidence about further gains in
emerging Asian currencies, with regional stock markets under
pressure from a lack of signs of a global economic recovery.
"Concerns over dire global growth, led by China, prevented
markets from aggressively adding bullish bets on Asia FX," said
Jeong My-young, Samsung Futures' research head in Seoul.
"In addition, the recent RBA's rate cut boosted expectations
of similar moves in other countries including South Korea,"
Jeong said, referring to the Reserve Bank of Australia.
RINGGIT
The ringgit advanced as oil prices jumped on Wednesday after
an unexpected fall in U.S. crude inventories.
The Malaysian currency extended gains after data showing
industrial production in March rose more than expected thanks to
growth in the manufacturing and electricity sectors.
Investors stayed wary of 1MDB as dispute between the
Malaysian fund and Abu Dhabi state-owned International Petroleum
Investment Co (IPIC) intensified on Wednesday, with IPIC saying
there was a fresh default by 1MDB.
WON
The won found more support from South Korean exporters'
demand for settlements.
Traders hesitated to add bullish bets on the currency on
expectations of further central bank easing later this year.
The Bank of Korea is expected to keep interest rates on hold
this week but may cut in June or July to improve economic
conditions for ongoing corporate restructuring in the shipping
and shipbuilding industries.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0515 GMT
Currency Latest bid Previous day Pct Move
Japan yen 108.91 108.40 -0.47
Sing dlr 1.3667 1.3667 +0.00
Taiwan dlr 32.514 32.528 +0.04
Korean won 1161.95 1167.60 +0.49
Baht 35.24 35.27 +0.10
Peso 46.550 46.550 0.00
Rupiah 13295 13300 +0.04
Rupee 66.58 66.56 -0.03