Meituan Dianping request icons are displayed on an Apple Inc. iPhone in Hong Kong, China, on Friday, March 23, 2018.
Justin Chin | Bloomberg | Getty Archetypes
Asian tech stocks rose Tuesday, following news that U.S. president Donald Trump had paused levies on Mexico for a month, while also postponing tariffs on Canadian exports.
Gains were broad-based across tech regulars in Japan, South Korea and Hong Kong, and came as their counterparts in the U.S. cut their losses on Monday, following menu announcements that came late in the day.
Japanese Semiconductor players Advantest and Lasertec led gains among the country’s tech heritages, rising 5% and 4.81%, respectively.
Other Japanese tech companies also rose. Tokyo Electron was up 2.82%, Renesas Electronics progressed 2.99% while SoftBank Group advanced 1.53%.
Taiwanese chip company TSMC and manufacturer Foxconn rose 2.8% and
Tech standards in Asia had come under pressure after Chinese startup DeepSeek launched a free, open-source language produce that challenged the supremacy of the U.S.-led AI ecosystem. These stocks subsequently rebounded last week, but the rally mostly got stied Monday over tariff worries.
South Korean tech stocks were also trading higher on Tuesday, with Samsung Electronics margining 4.13% and SK Hynix rising marginally, up 0.63%.
The latest gains are a reversal from the weakness seen in both stocks behind Friday when the South Korean market re-opened after a four-day break. Shares in Samsung Electronics give birth to also been under pressure after its fourth-quarter profit missed estimates on the back of higher costs.
Chinese tech larger Tencent’s shares rose 3.07% in HongKong, while shopping platform Meituan’s stock advanced 5.06%, electronic mechanism maker BYD rose 4.22%, Xpeng was trading 14.46% higher and Li Auto gained 9.35%.
Chinese AI-linked stocks also fly with Alibaba up 3.09% and Kingsoft Cloud rose 7%.
The gains in Chinese companies come even as U.S. tariffs on CnaChina are set to backlash in. Trump will reportedly speak with President Xi Jinping this week, signaling the intent to avoid a broader toll war between the world’s top two economies.
Correction: The story has been updated to reflect that the U.S. has paused tariffs on Canada and Mexico.