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World markets advanced sharply on Monday after US President Donald Trump announced a temporary exemption on electronics—including smartphones, laptops, and computer chips—from new tariffs, offering relief to technology companies and boosting investor confidence.
In early European trading, Germany’s DAX surged 2.4% to 20,857.54, France’s CAC 40 rose 2% to 7,245.28, and the UK’s FTSE 100 climbed 1.8% to reach 8,104.83. US futures also pointed to a positive start, with the S&P 500 gaining 1.2% and the Dow Jones Industrial Average rising 0.9%, according to new agency AP.
Tech stocks lead gains
Asia’s markets logged solid gains, driven largely by optimism in the tech sector. Japan’s Nikkei 225 rose 1.2% to 33,982.36, while South Korea’s Kospi gained 1% to 2,455.89. Shares in major tech firms surged—Tokyo Electron climbed 1.4%, Advantest jumped 4.9%, and Samsung Electronics advanced 1.8%.
Hong Kong’s Hang Seng Index rallied 2.4% to 21,417.40. The Shanghai Composite rose a more modest 0.8% to 3,262.81, buoyed by new government data showing a 12.4% surge in China’s exports in March compared to the same month a year earlier.
Trump’s move to temporarily exempt key electronics from import duties came after China announced a steep tariff increase on US goods—raising some rates to 125% in response to Washington’s previous actions. In a statement, China’s Ministry of Commerce called Trump’s exemption “a small step” and urged the US to cancel all reciprocal tariffs entirely.
Australia’s S&P/ASX 200 also joined the rally, gaining 1.3% to close at 7,748.60. However, Taiwan’s Taiex slipped by 0.1%, reflecting concerns over possible upcoming US tariffs specifically targeting chip exports—a sector critical to the island’s economy. Trump has stated that new chip tariffs are expected to be detailed “over the next week.”
Market volatility eases, but trade tensions linger
Despite Monday’s optimism, global markets remain on edge over the ongoing trade conflict between the world’s two largest economies. Analysts warn that prolonged friction could lead to wider economic damage, potentially triggering a global slowdown. Trump’s recent 90-day pause on select tariffs—excluding China—has temporarily eased fears, but uncertainty continues to cloud investor sentiment.
Last Friday, Wall Street closed with strong gains. The S&P 500 jumped 1.8%, the Dow climbed 1.6%, and the Nasdaq composite rose 2.1%, helped by better-than-expected earnings from major US banks. JPMorgan Chase reported a 4% rise, Morgan Stanley added 1.4%, while Wells Fargo dipped 1%.
Bond markets also saw significant movement. The 10-year US Treasury yield stood at 4.44% early Monday, down from Friday’s peak of 4.58%, but still significantly higher than the 4.01% level just a week earlier. Rising yields have raised concerns over potential sell-offs and broader economic instability, particularly as investors gauge the implications of ongoing trade policies.
Oil prices reversed earlier losses, with US benchmark crude up 63 cents to $62.13 per barrel and Brent crude, the global standard, rising 62 cents to $65.38 per barrel. Meanwhile, currency markets saw the US dollar weaken to 143.25 Japanese yen from 143.91 yen, while the euro strengthened to $1.1382 from $1.1320.
Gold, a traditional safe haven for investors, slipped about $9 early Monday to trade at $3,235 an ounce, as market fears eased slightly amid the tariff reprieve for electronics.
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