* Graphic: World FX rates tmsnrt.rs/2RBWI5E * Taiwan stocks on track for worst week in over a year * Singapore stocks down 0.3%, dollar falls 0.21% * Philippine shares down 1.9% By Soumyajit Saha May 14 (Reuters) - Philippine stocks shed 2% on Friday as investors continued to worry about lack of growth despite easing of restrictions there, while Taiwan stocks tracked gains in Asia after the island"s premier reassured that it was prepared to fight the pandemic. Most Asian equities came back to life after a turbulent week, with China, South Korean shares and India stocks firming between 0.2% to 1.2%. However, Manila shares hit a six-month low as COVID-19 restrictions were pulled back in some regions even as daily cases continued to average around 6,700 in May. Philippines has the second-highest number of cases and deaths in Southeast Asia. "Despite the general community quarantine relaxation, it still seems restrictive in terms of movement", said Astro del Castillo, managing director at First Grade Finance in Manila. Lack of good news about the economy and on COVID-19 is keeping investors cautious, he added. Markets were generally buoyed by Wall Street"s strong finish overnight as reassurances from Federal Reserve officials about the transitory nature of surging inflation soothed nerves. "Overall, the negative feedback loop seen in the risk assets and global equities triggered by the heightened risk of global inflationary pressure seems to have subsided," Kelvin Wong, a market analyst with CMC Markets wrote. Taiwan shares surged 1.2% and snapped four sessions of losses after Premier Su Tseng-chang said the COVID-19 alert level would not be raised and that it had more resources to fight the pandemic. However, the index is slated to lose over 8% for the week - its worst performance in over a year - as an unexpected spike in cases forced authorities to tighten curbs in public places. Singapore shares fell 0.3%, dragged by heavyweight Singapore Telecommunications Ltd after flagged a full year loss. Singapore"s dollar eased 0.2%, while the Philippine peso and Taiwanese dollar were little changed against a fluctuating dollar, which had strengthened on higher Treasury yields. Markets in Malaysia and Indonesia were closed for a public holiday. HIGHLIGHTS ** Thai central bank to announce new measures to help households and small businesses ** India"s COVID-19 cases cross 24 million ** Indonesian 10-year benchmark yields are down about 0.9 basis points at 6.405% Asia stock indexes and currencies at 0451 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS DAILY % STOCKS YTD % Japan -0.05 -5.73 2.22 2.23 China +0.15 +1.30 1.21 -0.05 India +0.04 -0.44 0.18 5.30 Philippines +0.04 +0.44 -1.86 -14.28 S.Korea -0.07 -3.88 0.95 9.68 Singapore -0.19 -1.12 -0.28 9.52 Taiwan +0.08 +1.82 0.62 7.02 Thailand +0.00 -4.43 -0.17 6.64 (Reporting by Soumyajit Saha & Anushka Trivedi in Bengaluru. Editing by Gerry Doyle) Our Standards: The Thomson Reuters Trust Principles.