Asian Markets Climb as Tech Stocks Rally on Partial Tariff Relief

Asian stock markets advanced on Monday, buoyed by strong gains in technology shares after the Trump administration temporarily exempted certain consumer electronics from its upcoming reciprocal tariffs. The move sparked investor optimism, though U.S. officials later clarified that key products such as smartphones, computers, and semiconductors could still face tariffs within the next month.

The dollar remained weak during Asian trading, while gold hovered near record highs. Oil prices edged higher, supported by Chinese trade data showing a sharp rebound in crude imports in March.

Chinese markets rose as investors welcomed both the tariff reprieve and robust export data. The benchmark Shanghai Composite Index climbed 0.76% to 3,262.81, while Hong Kong's Hang Seng Index surged 2.40% to 21,417.40. The rally was underpinned by a 12.4% jump in Chinese exports for March, as exporters rushed shipments ahead of expected U.S. tariffs.

Japanese stocks also saw solid gains, led by Apple-linked firms after smartphones were temporarily spared from new tariffs. The Nikkei jumped 1.18% to 33,982.36, and the broader Topix Index rose 0.88% to 2,488.51. Chip-related stocks performed strongly, with Advantest surging 4.9%, Tokyo Electron up 1.4%, and Screen Holdings climbing 3.9%.

In South Korea, the Kospi Index advanced 0.95% to 2,455.89 amid easing trade tensions. LG Innotek, a key Apple supplier, soared 5.8%, while Samsung Electronics and LG Energy Solution gained around 2% each.

Australia’s S&P/ASX 200 rose 1.34% to 7,748.60, with materials and energy stocks in the lead. New Zealand’s S&P/NZX-50 Index added 0.74% to close at 12,107.54.

U.S. stocks also closed higher Friday as hopes for a U.S.-China trade deal resurfaced. Still, officials indicated China must initiate talks. Wall Street gained despite concerns about a slowdown, with strong bank earnings and rising inflation expectations driving market momentum.