* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
* Economists predict Indonesia Q1 GDP at -0.74%
* Singapore stocks extend losses
* India cases cross 20 mln mark, shares fall
* China, Thailand financial markets closed
By Anushka Trivedi
May 4 (Reuters) - Taiwan shares slumped 2%, guided by falls in tech stocks on Wall Street overnight, and led losses among Asian equities on Tuesday as the region continued to reel from rapidly climbing COVID-19 cases.
A raft of manufacturing data in emerging Asia this week pointed to a slower pace of economic recovery, with investors further worried by the modest vaccination rate in the face of an explosion in coronavirus cases and a creaky healthcare system.
In a divergence from world's developed markets which are faring better than Asia as their economies slowly reopen, Asian equities in South Korea .KS11 , Philippine .PSI and Indonesia .JKSE eased between 0.2% to 0.3%.
Holidays in major financial markets of China and Japan dampened investor activity generally.
"Sentiment across Asia remains subdued as new COVID-19 waves are hitting India and some Southeast Asian countries, threatening millions of lives and an economic recovery in the region," said DailyFX strategist Margaret Yang.
"New COVID-19 strains appear to be more contagious and deadly, rendering developing countries more vulnerable due to a lack of vaccines and healthcare resources."
India's official tally of coronavirus infections surged past 20 million and its shares .NSEI fell 0.3%. bourse .TWII saw its worst day in over eight-months as it tracked an overnight drop in U.S. tech stocks, compounded by fears over a recent uptick in domestic COVID-19 infections linked to China Airlines 2610.TW . shares .STI extended losses, while the local dollar SGD= eased 0.3% after the latest COVID-19 cluster over the weekend sparked concern. the Indonesian rupiah IDR= edged up 0.2% a day before first-quarter gross domestic product (GDP) data was due. Southeast Asia's largest economy is expected to have contraction 0.74% for the period. financial markets were shut due to a holiday.
** Indonesian 10-year benchmark yields ID10YT=RR are up 0.3 basis points at 6.484%
** S. Korean won KRW=KFTC recovers slightly from previous session's 1% drop
Asia stock indexes and currencies at 0428 GMT
FX DAILY FX YTD %
YTD % Japan
-1.88 Philippines PHP=
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