* Singapore reports record high COVID-19 cases * U.S. bans China Telecom"s unit, sparking tensions * Malaysia"s September trade data beats forecast By Anushka Trivedi Oct 28(Reuters) - Asian stocks fell across the board on Thursday as investors were unsettled by risks of renewed U.S.-China tension, potentially adding to existing global supply chain issues, while the Indonesian rupiah hit a two-week low. Stocks of trade-reliant Asian countries like the Philippines, South Korea and Indonesia shed between 0.3% and 1%. Shanghai equities dropped the most, down 1.2%, with the yuan easing 0.1%. Investor focus was squarely on developments in China, which is grappling with an economic slowdown due to an energy crunch and a crisis in its property sector, as well as fresh COVID-19 outbreaks. News of the U.S. telecoms regulator revoking China Telecom"s authorisation to operate late on Wednesday compounded worries for market participants only too aware that tensions between the world"s two biggest economies previously threw global trade into a disarray. "Focus in the region may revolve around ongoing COVID-19 risks in China, with infections in Beijing at an eight-month high," said Yeap Jun Rong, a market strategist at retail trading platform IG. The ban on China Telecom also "fuelled concerns that further escalation could possibly bring back more U.S. scrutiny on Chinese technology players." Jakarta shares fell as much as 1.2% to a two-week low, with energy stocks leading the decline as China coal futures tumbled after Beijing stepped up measures to control prices. Indonesia is the world"s top thermal coal exporter. The rupiah fell 0.2% on the same news, having lost 1.3% over the past 10 days since Beijing pledged to intervene in the coal market. The Philippine peso and the Taiwanese dollar also slipped, while most other currencies traded flat as souring risk sentiment supported the greenback"s safe-haven status in Asia trading. The Malaysian ringgit recouped early losses to gain 0.1% after September trade data beat expectations handily due to a surge in petroleum products and palm oil exports. Meanwhile, Singapore stocks dipped after the city-state reported an "unusual surge" of 5,324 new infections of COVID-19 - its highest such figure since the beginning of the pandemic despite 84% of the population being fully vaccinated. HIGHLIGHTS ** Singapore"s 5-year benchmark yield is up 12.7 basis points at 1.4%​​ ** Indonesian 10-year benchmark yields are up 0.8 basis points at 6.161% ** Top losers on the Singapore STI include: Keppel DC REIT, down 1.3%, and Singapore Telecommunications Ltd, down 1.2% Asia stock indexes and currencies at 0641 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS STOCKS DAILY % YTD % Japan +0.24 -9.07 -0.96 5.01 China -0.10 +2.04 -1.13 1.41 India +0.27 -2.35 -0.78 29.23 Indonesia -0.21 -1.13 -1.13 9.18 Malaysia +0.13 -3.07 -0.72 -3.42 Philippines -0.13 -5.35 -1.00 0.25 S.Korea +0.03 -7.14 -0.53 4.74 Singapore +0.07 -1.96 -0.20 12.94 Taiwan -0.05 +2.31 -0.19 15.67 Thailand +0.30 -9.92 0.09 12.40 (Reporting by Anushka Trivedi in Bengaluru; Editing by Subhranshu Sahu)