Tech stocks lift Asian markets, but confusion reigns over US tariffs.

Tech shares led Asian stocks higher on Monday (April 14) morning, after Donald Trump’s move to exclude smartphones and some other goods from his tariffs.

Japan’s Nikkei index jumped over 1.5% by early afternoon.

Tech gear makers TDK and Advantest were among the top gainers, rising over 5%.

Shares in China did even better, with Hong Kong’s Hang Seng Index gaining around 2.5% during the morning.

E-commerce titan Alibaba jumped over 5%.

Trump’s move is a boon for firms like Apple, which makes most of its iPhones in China.

But confusion still reigns over what exactly Washington plans to do next.

Speaking to reporters late Sunday (April 13), Trump said chips and other goods would still face new duties:

“But the tariffs will be in place in the not distant future because as you know like we did with steel, like we did with the automobiles, like we did with aluminum, which are now fully on, we’ll be doing that with semiconductors, with chips, and numerous other things and that will take place in the very near future.”

Trump said he would announce the rate for semiconductors over the coming week.

He said there would be flexibility for some firms in the sector, without giving any names.

In an earlier social media post, he said, “nobody is getting off the hook”.

He said smartphones and other goods were not getting a permanent exemption, but would just move to a different tariff “bucket”.

Many investors have voiced frustration at the constant shifts in policy.

Billionaire hedge fund boss Ray Dalio said Sunday that the U.S. was now “very close” to a recession as a result of the trade turmoil.

Even so, Monday saw signs of tentative relief across financial markets.

Prices eased for traditional safe havens, including gold and the Swiss franc.

The U.S. dollar broadly steadied against key currencies but remained near the three-year lows touched on Friday.

Source: https://finance.yahoo.com/video/tech-stocks-lift-asian-markets-054604595.html