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By Roushni Nair

July 30 (Reuters) - The South Korean won and equities rallied on Wednesday as investors cheered prospects of Seoul's trade negotiations with the U.S. ahead of the August 1 tariff deadline, although stocks and currencies elsewhere in Asia were mixed.

The won KRW= strengthened 0.7% to 1,378.4 per dollar while Seoul shares .KS11 advanced over 1% to a near four-year high of 3,268.97 points. Samsung Electronics 005930.KS led the charge with a 2.55% rise after signing a $16.5 billion chip-supply deal with Tesla earlier this week.

Korean assets gained momentum as three cabinet-level officials met U.S. Commerce Secretary Howard Lutnick in Washington, with Finance Minister Koo Yun-cheol preparing to meet Treasury Secretary Scott Bessent on Thursday.

Seoul announced plans for a comprehensive trade package over the weekend aimed at securing favourable terms.

The urgency comes amid a broader regional race after Vietnam, Indonesia, the Philippines and Japan secured agreements with Washington, intensifying pressure on remaining economies. Thailand expects to conclude talks before the deadline to avoid tariffs as high as 36%.

Elsewhere, the Indian rupee INR=IN was the region's biggest underperformer after President Donald Trump said India may face 20-25% tariffs, though final rates remain under negotiation. It slipped 0.5% to a four-month low and the central bank likely intervened to arrest the decline, traders told Reuters.

Other regional currencies traded flat, with Singapore's dollar SGD=, Malaysia's ringgit MYR= and Thailand's baht THB=TH showing little movement.

Regional equities were mixed with Taipei .TWII and Bangkok .SETI up 0.9% and 0.3% respectively, while Jakarta .JKSE and Kuala Lumpur .KLSE fell 0.7% and 0.3%.

The dollar hit near one-month highs as markets grew wary about their earlier optimism towards the recently announced U.S.-EU trade framework. Investors viewed the lopsided agreement as a symbolic rather than structural resolution, reinforcing the greenback's appeal amid trade uncertainty. USD/

U.S. and Chinese officials agreed on Tuesday to seek an extension of their 90-day tariff truce following Stockholm talks, though no breakthroughs were announced and Trump will decide whether to extend the August 12 deadline.

Singapore's central bank kept monetary settings unchanged, dashing easing hopes.

"Policymakers opted for a cautious approach to bide time until more clarity emerges on global trade," said Shivaan Tandon, markets economist at Capital Economics.

Investor focus now shifts to central bank meetings, with the Federal Reserve expected to hold rates steady later in the day. The Bank of Japan is also expected to stand pat on Thursday.

HIGHLIGHTS:

** Thai finance ministry raises 2025 growth forecast

** Philippines posts $3.95 billion trade deficit in June

(Reporting by Roushni Nair in Bengaluru; Editing by Sam Holmes)

((Roushni.Nair@thomsonreuters.com))