*

South Korean shares jump to record high as chip stocks

rally

*

Nvidia ( NVDA ) earnings lift risk mood, supporting regional stocks

*

BoK holds rates, signals steady policy as chips boom

*

Ringgit tops Asia YTD; Thai rate cut surprises, baht

steady

(Updates for afternoon trade)

By Roushni Nair

Feb 26 (Reuters) - Most Asian currencies firmed while

stock markets were mixed on Thursday, with South Korean equities

leading gains, as a softer U.S. dollar and upbeat tech sentiment

helped offset lingering uncertainty over Washington's latest

tariff plans.

South Korea's benchmark KOSPI jumped 3.7% to a

record 6,313.92, with chip-related stocks extending a run of

strong gains after better-than-expected earnings from Nvidia ( NVDA )

boosted risk appetite.

The South Korean won was down about 0.1%. The

Bank of Korea held interest rates steady as expected for a sixth

straight meeting and signalled policy would likely stay

unchanged for the next six months, citing a chip-led export boom

and steady inflation.

U.S. trade policy remained in focus after the Supreme Court

on February 20 struck down the Trump administration's emergency

tariffs.

U.S. Trade Representative Jamieson Greer said some countries

would face tariffs of 15% or more, up from the newly imposed 10%

rate, but did not name trading partners or explain how higher

duties would be applied where they conflict with existing U.S.

trade agreements.

That leaves Asian economies that signed bilateral trade and

investment deals with the United States last year to secure

lower tariff rates facing renewed risk, said Chi Lo, senior

market strategist at BNP Paribas Asset Management.

If new tariffs end up above last year's negotiated

reciprocal rates, he said, countries may have to return to the

table.

Elsewhere, Thailand's central bank surprised markets on

Wednesday with a quarter-point rate cut.

The baht was little changed, though Maybank warned

it could lag regional peers despite support from dollar softness

and elevated gold prices. Bangkok stocks rose 1.2% to

their highest level in nearly 29 months.

The Malaysian ringgit was up just 0.1% but remained

the region's best performer this year, rising about 4.4%.

MUFG currency analyst Lloyd Chan cited a stronger growth

outlook, improving trade dynamics and favourable FX flows as

supportive of further gains.

In other markets, the Taiwan dollar led currency

gains with a 0.4% rise, while the rupiah added 0.2% and

the yuan gained 0.3%.

Indonesian stocks fell 1.6% and Malaysian equities

slid 0.8%, while Singapore's STI dropped 0.8%.

China's Shanghai Composite was flat, while Manila shares

nudged up 0.1%.

Investors now await Japan's January industrial output data,

Philippine and Hong Kong trade figures and India's

fourth-quarter gross domestic product numbers, all due on

Friday.

HIGHLIGHTS:

** Indian equities set for another lacklustre year - POLL

** Hawkish BOJ board member calls for focus on inflation

overshoot risk

** BOJ to keep raising rates if forecasts materialise,

Governor Ueda says

Asia stock indexes and currencies

at 0748 GMT

COUNTRY FX RIC FX DAILY FX YTD % INDEX STOCKS STOCKS

% DAILY YTD %

%

Japan +0.17 +0.37 0.29 13.35

China India +0.10 -1.09 -0.19 -2.66

Indonesia +0.18 -0.48 -1.45 -5.15

Malaysia +0.08 +4.43 -0.49 3.52

Philippines -0.19 +2.08 0.08 9.46

S.Korea Singapore +0.03 +1.80 -0.73 6.99

Taiwan +0.30 +0.61 0.00 22.27

Thailand -0.03 +1.32 1.00 21.56

(Reporting by Roushni Nair in Bengaluru; Editing by Sonali Paul

and Subhranshu Sahu)