Emerging Asia"s stocks and currencies fell on Tuesday as investors sold risky assets ahead of a slew of key central bank meetings, while China"s property sector woes also weighed on market sentiment. A strong dollar (.DXY) pinned down Asian currencies on expectations the Federal Reserve will bring forward an end to its bond buying stimulus when its two-day review wraps up on Wednesday, setting the path for earlier rate hikes. Indonesia and the Philippines are both expected to stand pat on interest rates at central bank monetary policy meetings on Thursday, while the European Central Bank and Bank of England will meet later that day. "Risk markets retreated ahead of the series of central bank meetings scheduled for this week," ANZ analysts said in a note. "Reining in inflation will be top of the agenda for many, as will be managing the risk that Omicron poses." The World Health Organization said the Omicron variant of the coronavirus poses a "very high" global risk, while British Prime Minister Boris Johnson has warned of a "tidal wave" of new coronavirus cases. read more Equities in Indonesia (.JKSE), Malaysia (.KLSE), Thailand (.SETI) and Taiwan (.TWII) eased between 0.4% and 1%, following China stocks (.SSEC) lower after the first Omicron coronavirus variant case was detected in the country. read more Concerns over the financial health of property developer Shimao Group Holdings Ltd (0813.HK) added to jitters in the Hong Kong and Chinese markets. The yuan , however, firmed 0.1% on foreign exchange settlement demand, even as a former senior official at China"s FX regulator cautioned the country should avoid excess appreciation in the currency. read more The Malaysian ringgit , South Korea"s won and the Singapore dollar shed 0.1% to 0.3%. The Manila-based Asian Development Bank trimmed its growth forecasts for developing Asia for this year and next due to Omicron-related uncertainty and slowing growth at the region"s top trade partner China. read more Meanwhile, Manila shares (.PSI) were the only major gainers of the day, rising 0.3%, after the Philippine central bank pledged it would continue to support economy for as long as necessary. In a poll conducted ahead of the Bangko Sentral ng Pilipinas meeting, it was found that BSP was likely to wait until the end of next year before raising interest rates due to the current uneven economic recovery and cooling inflation. read more HIGHLIGHTS ** The Philippines secured a loan to purchase 40 million additional COVID-19 vaccine doses, as it aims to fully vaccinate at least 54 million people, or nearly half of the country"s population before the year ends. read more ** Indonesian 10-year benchmark yields were up 2.1 basis points at 6.336%​​ ** Top losers on FTSE Bursa Malaysia Kl Index (.KLSE) include: Press Metal Aluminium Holdings Bhd (PMET.KL) down 2% and Sime Darby Plantation Bhd (SIPL.KL) down 1.9% Asia stock indexes and currencies at 0412 GMT COUNTRY FX RIC FX DAILY % FX YTD % INDEX STOCKS DAILY % STOCKS YTD % Japan -0.02 -9.10 (.N225) -0.80 3.52 China +0.05 +2.57 (.SSEC) -0.31 5.67 India +0.00 -3.56 (.NSEI) -0.38 23.75 Indonesia -0.07 -2.16 (.JKSE) -0.67 10.69 Malaysia -0.17 -5.01 (.KLSE) -0.58 -8.67 Philippines -0.02 -4.65 (.PSI) 0.40 1.22 S.Korea -0.20 -8.20 (.KS11) -0.77 3.66 Singapore -0.11 -3.50 (.STI) 0.11 9.84 Taiwan -0.03 +2.44 (.TWII) -0.89 19.53 Thailand -0.12 -10.30 (.SETI) -0.40 11.73 Reporting by Anushka Trivedi in Bengaluru; editing by Richard Pullin Our Standards: The Thomson Reuters Trust Principles.