* Graphic: World FX rates 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, Philippine and Indonesia 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 fell 0.3%. Taiwan"s bourse 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. Singapore shares extended losses, while the local dollar eased 0.3% after the latest COVID-19 cluster over the weekend sparked concern. Meanwhile, the Indonesian rupiah 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. Thailand"s financial markets were shut due to a holiday. HIGHLIGHTS ** Indonesian 10-year benchmark yields are up 0.3 basis points at 6.484% ** S. Korean won recovers slightly from previous session"s 1% drop ** Top losers on the Singapore STI include: Capitaland Ltd down 2.5% and Jardine Matheson Holdings Ltd down 1.2% Asia stock indexes and currencies at 0428 GMT COUNTRY FX RIC FX DAILY FX YTD % INDEX STOCKS STOCKS % DAILY % YTD % Japan -0.18 -5.51 0.00 4.99 India 0.00 -1.15 -0.01 4.66 Indonesia +0.20 -2.61 -0.33 -0.77 Malaysia -0.17 -2.19 0.37 -1.88 Philippines -0.11 -0.09 -0.15 -10.93 S.Korea +0.29 -3.08 -0.24 8.56 Singapore -0.19 -0.82 -0.18 11.79 Taiwan +0.20 +2.01 -1.82 14.77 (Reporting by Anushka Trivedi in Bengaluru; Editing by Simon Cameron-Moore) Our Standards: The Thomson Reuters Trust Principles.