EMERGING MARKETS-Asian markets get respite due to lull in tariffs news, dollar

Updates as at 0614 GMT

By Rishav Chatterjee and Adwitiya Srivastava

Feb 12 (Reuters) - Stocks in emerging Asian markets got some respite on Wednesday, with Indonesian stocks snapping a five-day losing streak, after a lull in the constant news flow of U.S. tariffs, which also stemmed the dollar's rally and gave Asian currencies a breather.

Asian markets have been on the back foot for the past two days as U.S. President Donald Trump first announced tariffs on steel and aluminium imports and promised reciprocal duties on countries that taxed U.S. exports.

Those plans are to be finalized on Wednesday but Trump had previously telegraphed these plans, which had stunned the markets.

The "equity markets are expected to be volatile as they seek clarity on this front (U.S. tariffs)," said Jason Kuan, director of investment research and advisory at CIMB.

The biggest gains were in Jakarta, where stocks .JKSE added up to 1.2%, and in the Philippines, where equities .PSI rose 1%.

The four-day slump in Indonesian stocks was triggered by MSCI closing the door on adding them to one of its indexes, and the pressure was exacerbated by weak earnings from market leader Bank Mandiri.

In Manila, the central bank is set to meet on Thursday, with the market expecting a 25-basis-point rate cut to bolster an economy that has missed its growth target for two straight years. The peso PHP= was more or less unchanged.

In contrast, Malaysian stocks have been on a week-long rally since the government said it would actively build trade relations with other countries, instead of awaiting tariffs. Stocks rose 0.5% in the day and are up 2.7% in the past week.

"The government is taking some necessary steps to ensure growth can continue to be sustained this year and also exploring options to diversify its export. So not relying fully on the U.S. and Chinese economy, but also to explore new markets," said Lloyd Chan, a senior currency analyst at MUFG Bank

The Malaysian ringgit MYR= was little changed, as were its local peers as the dollar's tariff-driven rally took a breather ahead of U.S. inflation data and news on the trade front. [USD/]

The Taiwanese dollar TWD=TP and its Singaporean counterpart SGD= were steady, while the rupiah IDR= gained 0.1%.

The Vietnamese dong VND=, however, dropped 0.2% to a fresh record low, while the South Korean won KRW=KFTC fell 0.1%.

Thailand's markets were closed for a public holiday.

HIGHLIGHTS:

Vietnam says to revise up 2025 GDP growth target

Malaysia's economic growth likely softened in Q4