Asian Tech Stocks Surge Amid Temporary Tariff Relief

Asian tech stocks rose after the U.S. granted temporary tariff exclusions on electronics. Apple's suppliers, Foxconn, Quanta, and others, saw significant gains. The tariff relief, aimed at electronics imported from China, is a positive step for negotiations, but semiconductor tariffs are still under review.

Shares in major Asian tech companies soared on Monday following a temporary tariff exclusion announcement by the U.S. government on smartphones and other electronics, which are mainly imported from China.

The relief led to significant gains for key Apple suppliers: Foxconn, Quanta, and Inventec. With Foxconn shares rising by 4%, Quanta by 7%, and Inventec also climbing 4%, the overall index benefited, showing a broad increase of about 1%.

This tariff exemption provides breathing room for Apple and related tech firms, hinting at potential positive developments in U.S.-China trade negotiations. However, a national security trade investigation could influence semiconductor tariffs soon, as hinted by President Trump, impacting market stability.

(With inputs from agencies.)