jan 19 reuters  philippine shares led emerging asian markets lower while most currencies also slipped on wednesday as treasury yields perched at twoyear highs amid mounting expectations for us interest rate hikes left investors worried about fund outflows currencies in the region were flat to lower with indonesias rupiah  an attractive carrytrade for investors down a fifth of a percent while the thai baht fell 03 the us dollar firmed as twoyear treasury yields were stuck above 1 and benchmark 10year yields stood at a twoyear high of 18860 investors are awaiting the federal reserves jan 2526 meeting for hawkish signals as markets now bet on at least four hikes this year likely starting in march with us interest rates slated to rise asias riskier assets could face outflows while the regions central banks may also be forced to follow suit and tighten policy to ensure stability stocks in the philippines psi fell 11 while in malaysia klse india nsei south korea ks11 and taiwan twii they fell close to 1 in china stocks ssec fell 07 while the yuan edged higher the countrys central bank on tuesday flagged more policy easing on the cards to help prop up the slowing economy sending government bond yields lower across the curve read more the general hardiness of the chinese currency is itself becoming a major attraction given its ample liquidity and stilldecent carry alvin tan rbc capital markets head of asia fx strategy said referring to a currency that is roughly flat so far this year prices of oil another big inflation driver climbed to a sevenyear high adding further pressure on the regions netimporters on thursday the central banks of malaysia and indonesia conclude their policy meetings and although no changes are expected markets will be keen on what commentary is forthcoming as global monetary policy looks set to tighten a reuters poll showed economists think bank indonesia will wait till the second half of the year to hike rates read more the surge in real rates spreads with us real rates suggests central banks in emerging asian markets have time to maintain their accommodative stances though the feds hiking course will erode reals spread very quickly mizuho said in a note  indonesian 10year benchmark yields are up 19 basis points at 6416​​  battery maker lg energy solutions public subscription for retail investors ends on wednesday with investors placing bids worth more than 32 trillion won solely on tuesday read more reporting by nikhil kurian nainan in bengaluru editing by himani sarkar and subhranshu sahu