2 weeks Ago
Asian technology stocks rose after the Trump administration announced a pause in tariffs for phones, computers and consumer electronics, though officials later downplayed the reprieve. South Korean parts maker LG Innotek Co., which gets the bulk of its revenue from Apple Inc.
, surged as much as 8.9%. Shares of Nvidia Corp.
supplier Advantest Corp. rose 6.3% in Tokyo, while fellow chip-equipment maker Tokyo Electron Ltd.
rose 5.2%. A gauge of Asian tech stocks climbed as much as 1.
7%, boosting the regional benchmark. The sector also got a lift from rallies in US stocks Friday including Apple and Nvidia. Later Friday, US Customs and Border Protection published measures excluding such products from the 125% China tariff and baseline 10% global tariff on nearly all other countries.
US Commerce Secretary Howard Lutnick and other administration officials on Sunday insisted it was only a pause before new tech tariffs are implemented, adding that these will be coming in the next couple of months. “I think it is ‘net’ reprieve, as the bet that electronics will still be less than the 125% reciprocal on China and that companies get to build buffer now,” said Vishnu Varathan, head of economics and strategy at Mizuho Bank. The biggest beneficiary in Asia around this news will likely be China “temporarily, but I would not take too much solace in that as the guns are still trained on China.
” Key stocks to watch include Luxshare Precision Industry Co. and Lens Technology Co., which get more than half of their sales from Apple.
Hong Kong-listed smartphone maker Xiaomi Corp. will also be in focus. In Taiwan, investors will watch shares of Nvidia’s key foundry Taiwan Semiconductor Manufacturing Co.
and iPhone assembler Hon Hai Precision Industry Co..
