By Rishav Chatterjee

April 25 (Reuters) - Taiwan stocks led gains among emerging Asian markets on Friday, as easing concerns over U.S. tariffs and a tech-fuelled rally on Wall Street helped sentiment, with shares in Manila surging to a one-month high.

Equities in Taipei .TWII climbed 2.2% supported by a 2.8% jump in chip-maker Taiwan Semiconductor Manufacturing Co 2330.TW, as investors rode the artificial intelligence wave.

U.S. stocks got a boost overnight, spurred by Google-parent Alphabet GOOGL.O reporting strong earnings and better-than-expected results from AI-powered software firm ServiceNow NOW.N. The mood was also lifted by market optimism around the U.S. Federal Reserve delivering rate cuts sooner-than-expected.

The Philippine benchmark index .PSI rose 2.2% to hit its highest since March 21, a day after JPMorgan Chase & Co. upgraded its rating on local equities to "overweight", and termed them a relative winner during the global upheaval triggered by Donald Trump's tariff measures.

JPMorgan credited the Philippines as the most domestic-focused market in the ASEAN region and said that could help shelter corporate earnings in the event of a global slowdown.

Elsewhere, shares in the city-state of Singapore .STI were unchanged as it took a breather after gaining 7.4% over the past eight sessions.

Stocks in South Korea .KS11 and Thailand .SETI gained around 1.1% each.

On trade, some countries in Asia have sent delegations to Washington in the hopes that proposed hefty U.S. tariffs, currently on hold for 90 days, will be lowered.

The United States and South Korea have agreed to craft a trade package which is aimed at removing new U.S. tariffs, the Asian nation's delegation in Washington said after first round of trade talks.

Emerging Asian currencies were mixed, while the U.S. dollar rose, as markets remained cautious in a week of mixed-signals by Trump's administration on trade deals and their stance on the Fed.

The Indonesian rupiah IDR=, which has weakened 4.3% this year, rose 0.3% after Bank Indonesia stood pat on interest rates earlier this week to support the currency.

The rupiah might be playing catch-up after recent underperformance, said Radhika Rao, a senior economist with DBS.

Among other currencies, the Philippine peso PHP= and Taiwan dollar TWD=TP gained 0.2% and 0.1%, respectively, while the Malaysian ringgit MYR= and Thai baht THB=TH drifted lower.

HIGHLIGHTS:

** Malaysia open to negotiate with U.S on reducing trade deficit

** Thai PM hospitalised with fever following Cambodia trip

** Indonesia wants 'fair and square' trade in US tariff talks

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Jacqueline Wong)

((Rishav.Chatterjee@thomsonreuters.com;))