Tech Stocks Surge on U.S. Tariff Exemptions

Asian tech stocks, key suppliers to Apple, rose as the U.S. granted temporary tariff exclusions on some electronics. Shares in Foxconn, Quanta, and other firms saw gains. The exemptions impact companies including Samsung Electronics, but uncertainty remains if these are permanent or just short-term measures.

Shares of Asian technology companies, prominently tied to U.S. tech giant Apple, experienced significant gains after receiving temporary tariff exemptions from the U.S. on certain electronics, including smartphones and computers largely imported from China.

This tariff leniency propelled stocks such as Foxconn, Apple's largest iPhone assembler, to rise as much as 7.8%, later closing 3% higher. Other firms like Quanta and Inventec also saw similar upticks. While the overall index dipped slightly, companies like Goertek and Lens Tech benefited from increased optimism in the market.

Although the news injected short-term positivity into the market, there remains speculation that the U.S. tariff exemptions are temporary. The electronics industry continues to navigate an environment of uncertainty influenced by ongoing U.S.-China trade negotiations and fluctuating policies.

(With inputs from agencies.)