Updates for afternoon trading

By Aaditya GovindRao and Roushni Nair

Feb 27 (Reuters) - Indonesian stocks and the South Korean won led Asian equities and currencies lower on Thursday, as uncertainty over U.S. President Donald Trump's tariff plans dampened sentiment and bolstered the dollar.

Equities in Jakarta .JKSE slipped over 2% to 6,458.4 points, its lowest since October 2021. The rupiah IDR= fell 0.5% to an over three-week low of 16,441 per U.S. dollar and set to for third consecutive session of losses.

The MSCI gauge of emerging market currencies .MIEM00000CUS shed 0.2%, while a gauge of emerging Asian equities .MIMS00000PUS dropped 1.3%.

Overnight, Trump floated a 25% "reciprocal" tariff on European cars and other goods and signalled another month-long extension for looming levies on Canada and Mexico.

However, a White House official later said the previous March 4 deadline for the levies on Mexican and Canadian goods remained in effect, increasing uncertainty over U.S. trade policy and sending the dollar index =USD 0.2% higher. USD/

The shifting tariff messages have fanned worries about U.S. economic growth and inflation and caused the greenback to drop nearly 4% from a more than two-year high hit in January.

"Tariff imposition on these dates can undermine sentiments and lead to spikes in the USD, unless the implementation dates are rolled back again," said Christopher Wong, a currency strategist at OCBC.

The Malaysian ringgit MYR= fell 0.3% to its lowest since February 19. The Thai Baht THB= lost 0.4% and the Korean won KRW=KFTC dropped 0.6%, after both countries' central banks cut interest rates earlier in the week.

"From a weighted average tariff rate perspective in the Asian space, South Korea and Thailand impose a higher average weighted tariff rate on the U.S. than the U.S. does on these countries," Wong said.

Reciprocal tariff rate adjustments from the U.S. may potentially impact these countries more, and hence their currencies are subject to higher volatility from tariff announcements, Wong said.

Among regional stocks, equities in Seoul .KS11 fell over 1%, dragged by losses in chipmaker SK Hynix 000660.KS, a main supplier for artificial intelligence darling Nvidia NVDA.O. The California-based company saw choppy trading in extended hours even after reporting strong first-quarter earnings.

Singapore stocks .STI were flat after falling for three straight sessions. They hit record levels last week.

Equities in Taipei .TWII declined 1.5% while those in Shanghai .SSEC gained 0.2%.

HIGHLIGHTS:

** India stocks to limp back in partial recovery from deepest rout in decades, Reuters Poll shows

** Indonesia to start using government-set benchmark coal price as the floor price

(Reporting by Aaditya Govind Rao in Bengaluru; Editing by Christian Schmollinger and Eileen Soreng)

((Aaditya.govindrao@thomsonreuters.com))