* Philippine shares hit near 1-year high * Indonesia shares touch Sept 2019 high * Malaysia stocks fall ahead of COVID-19 curbs announcement Jan 11 (Reuters) - Asia"s emerging currencies eased against the dollar, underpinned by a rise in U.S. Treasury yields, while Malaysian shares underperformed other regional stock markets ahead of new COVID-19 curbs to be announced this week. Some Asian stocks were supported by the prospect of more U.S. fiscal stimulus under President-elect Joe Biden, which weighed on U.S. debt and pushed 10-year Treasury yields to 10-month highs last week. Philippine shares climbed nearly 2% to their highest since February 2020 and Jakarta"s stock market index gained over 1% to hit its highest since September 2019. But Asian emerging currencies fell, with Indonesia"s rupiah weakening 0.6%, as the sharp rise in Treasury yields arrested the dollar"s recent decline. South Korea"s won fell 0.9% against the dollar, while the Singapore dollar shed half a percent. Analysts expect a Biden administration to boost stimulus, particularly after the Democrats took over the Senate in elections last week, making any further aid easier to pass through Congress. Poor U.S. payrolls last week highlighted the difficulties the world"s largest economy is facing amid rising COVID-19 infections. Barclays said the weaker dollar narrative and enthusiasm for emerging markets "have been challenged earlier in the year than we forecast, which may lead to a rethink of consensus trades" for the week. Elsewhere, in regional stock markets, Malaysian shares fell more than 1% with only a handful of companies managing to eke out gains. Malaysian Prime Minister Muhyiddin Yassin is set to announce new measures this week to curb a surge in COVID-19 cases. Industrial production in Malaysia also contracted unexpectedly in November, data showed, further denting sentiment. Citigroup expects the country"s economic recovery to remain soft into early 2021. Singapore shares also dipped 0.2% as investors booked profits after the index crossed the 3,000-point level on Friday. HIGHLIGHTS: ** Indonesian 10-year benchmark yields are up 11 basis points at 6.238% ** Top losers in Malaysia include PETRONAS Chemicals Group Bhd, Hartalega Holdings Bhd and Supermax Corp Bhd ** Fitch affirms Philippines, expects economic activity to continue to recover ** China"s factory prices fall at slowest pace in 10 months in December Asia stock indexes and currencies at 0435 GMT COUNTRY FX FX FX INDEX STOCKS STOCKS RIC DAILY % YTD % DAILY % YTD % Japan -0.25 -0.91 - 2.53 China -0.18 +0.63 -0.23 2.55 India -0.31 -0.54 0.65 3.28 Indonesia -0.64 -0.21 1.29 6.02 Malaysia -0.30 -0.54 -1.16 -0.80 Philippines 0.00 -0.12 1.15 3.28 S.Korea -0.92 -1.25 -0.99 8.61 Singapore -0.50 -0.80 -0.29 4.95 Taiwan +1.63 +1.73 -0.06 4.90 Thailand -0.30 -0.56 0.43 6.46 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Ana Nicolaci da Costa)