* U.S. CPI July unchanged sequentially * Singapore dollar falls on lower-than-expected GDP * Lockdown in China drives yuan lower By Archishma Iyer Aug 11 (Reuters) - The South Korean won and Indonesian rupiah rose on Thursday amongst mixed Asian currencies, as the United States reported a softer-than-expected inflation print, which pointed towards a less aggressive rate tightening path by the Federal Reserve. Any tampering of rate hike expectations for the Federal Reserve would potentially benefit the risk-sensitive Asian assets as a rally in the safe-haven U.S. dollar could slow down. The South Korean won and the Indonesian rupiah jumped 0.6% and 0.5% respectively. Other units like the Malaysian ringgit and the Taiwan dollar firmed 0.2% and 0.1% respectively, while the Philippines peso was flat. U.S consumer prices were flat for July sequentially and the CPI increased by a weaker-than-expected 8.5% year-on-year, primarily driven by a drop in petrol prices since mid-June. However, with inflationary pressures still elevated, prices data will continue to be in focus as the Fed considers if another outsized rate hike is needed in September. Traders are now pricing in a 50 basis point hike next month, rather than 75 basis points, which could see the U.S. central bank bringing down the pace of rate hikes. "Downside surprise in U.S. July CPI reading last night reinforces our expectations for CPI to grind lower over time, and for growth jitters to become more apparent into year-end, which would support some retracement of 1H dollar strength in second-half," analysts from Maybank said in a note. Still, the Singapore dollar shed nearly 0.2%, after the island nation's economy expanded less than initially estimated in the second quarter, flagging risks to global outlook owing the Russia-Ukraine war and surging inflation. "With overall H1 GDP growth revised down, we see downside risks to our full-year 2022 forecast of 4.3%, which is now above the Ministry of Trade and Industry's new GDP forecast range of 3.0-4.0%," analysts from Barclays said. The Chinese yuan eased 0.2% after Asia's largest economy imposed a lockdown at Ziwu in Zhejiang province, which is a major manufacturing hub in eastern China, following a recent COVID-19 outbreak. The Thai baht also fell, a day after the Bank of Thailand raised interest rates for the first time in four years, to counter surging inflation. Most regional stock markets rose, with Philippines gaining as much as 2.4% to hit a two-month high, while equities in Malaysia, Indonesia and Taiwan jumped in the range of 0.6% and 1.2%. HIGHLIGHTS: ** Indonesian benchmark 10-year bond yield down 7.032% ** Sri Lanka's ousted president to seek temporary stay in Thailand ** Top gainers on the Philippines benchmark include Wilcon Depot up 6.9%, Ayala Land up 6% and Megaworld Corp up 5.2% Asia stock indexes and currencies at 0441 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS YTD DAILY % YTD % DAILY % % Japan -0.23 -13.5 closed 9 China India +0.29 -6.26 0.86 1.91 Indonesi +0.52 -3.67 1.02 8.77 a Malaysia +0.22 -6.32 0.63 -4.19 Philippi -0.05 -8.03 2.50 -6.86 nes S.Korea Singapor -0.14 -1.65 0.41 5.64 e Taiwan +0.07 -7.63 1.66 -16.64 Thailand -0.07 -5.56 0.31 -2.14 (Reporting by Archishma Iyer in Bengaluru; Editing by Lincoln Feast)