* S.Korean won hits two-week low
* Indonesian rupiah snaps eight-day rally
* Philippine stocks hit over two-month high

By Shivangi  Lahiri
       July 15 (Reuters) - Asian emerging market currencies
were on the back foot on Monday against a broadly stronger
dollar as investors bet an attack on former U.S. President
Donald Trump boosted chances of his re-election in November,
stoking fears of instability.
    The prospect of such a return to the White House after the
attack is intensifing investors' worries that Trump's hawkish
trade policy, loose regulation and fiscal plans, and potential
tax cuts could fan inflation and push back rate cuts.
    The dollar was last trading at 104.210 against a
basket of major currencies. While cash U.S. Treasuries were
untraded in Asia due to a holiday in Japan, the 10-year Treasury
futures trended lower.
    "I see the odds of the Trump trade getting reinforced over
the next few months till November, unless the Democrats can come
up with a really credible alternative," said Hemant Mishr, chief
investment officer at S Cube Capital in Singapore.
    "I would bet on high growth, high inflation trades -
financials and energy to do well, and negative for Asian
currencies."
    The South Korean won fell as much as 0.6% to
1,383.40, its lowest since early July, while the Thai baht
 and the Philippine peso lost about 0.3% each.
    The Indonesian rupiah declined 0.3% as well after an
eight-day rally until last Friday, ahead of the central bank's
monetary policy meeting set for Wednesday.
    "The weakness in the rupiah today is likely after the strong
payback it has had over the month of June over concerns of
potential fiscal slippage under the Prabowo administration,"
said Khoon Goh, Asia research head at ANZ.
    Bank Indonesia (BI) is widely expected to hold interest
rates at 6.25% at this week's meeting, but might cut by 25 basis
points next quarter, a Reuters poll showed.
    "BI will want to ensure the rupiah can recover or stay
stable ... They would not want to pre-empt easing before the
U.S. Federal Reserve does," Goh added.
    Equities in emerging Asian countries were mixed, with shares
in Malaysia up 0.4%, while those in Taiwan and
Thailand were down roughly half a percentage point.
    The Philippine benchmark index was up as much as 1%, 
trading roughly around its highest level since early May.
    Last week, Eli Remolona, the governor of the Bangko Sentral
ng Pilipinas (BSP), said the central bank had more scope to cut
interest rates at its next meeting in August. Analysts widely
expect the next move to be a rate cut.
    China, the region's biggest trading partner, reported
second-quarter economic growth that was much slower than
expected, keeping alive expectations that Beijing will need to
inject even more stimulus to boost growth.
    The Chinese yuan slipped off a one-month high
against the dollar touched in the prior session, while the
Shanghai Composite index was trading slightly higher.
    
    HIGHLIGHTS:
    
    ** QUOTES-Investors react to shooting at Trump election
rally
    ** China c.bank leaves medium-term rate unchanged as
expected
    ** Thai economy faces upheaval due to factory closures and
cheap Chinese imports
    
 Asia stock indexes                                       
 and currencies at                                  
 0429 GMT                                           
 COUNTRY   FX RIC          FX     FX  INDE  STOCKS  STOCKS
                      DAILY %  YTD %     X   DAILY   YTD %
                                                 %  
 Japan                  -0.08  -10.7  <.N2  -2.45   23.10
                                   3  25>           
 China                               EC>           
 India                   0.00  -0.39  <.NS    0.18   12.95
                                      EI>           
 Indonesi               -0.25  -4.82  <.JK   -0.34    0.41
 a                                    SE>           
 Malaysia               -0.11  -1.76  <.KL    0.44   11.79
                                      SE>           
 Philippi               -0.29  -5.43  <.PS    0.92    4.02
 nes                                  I>            
 S.Korea                             11>           
 Singapor               -0.08  -1.70  <.ST   -0.01    7.93
 e                                    I>            
 Taiwan                 -0.14  -5.74  <.TW   -0.35   32.92
                                      II>           
 Thailand               -0.28  -5.62  <.SE   -0.55   -6.44
                                      TI>           
 
    
 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Clarence
Fernandez)