Asian tech companies saw broad gains across multiple markets, with stocks in Japan, South Korea, and Hong Kong leading the charge. Semiconductor players Advantest and Lasertec led gains in Japan, rising 5% and 4.81%, respectively. Other Japanese tech firms also rose, with Tokyo Electron up 2.82% and Renesas Electronics gaining 2.99%.
In South Korea, Samsung Electronics gained 4.13%, while SK Hynix rose marginally. Chinese companies saw significant gains as well, with Tencent’s shares rising 3.07% in Hong Kong and Meituan’s stock advancing 5.06%. Electronic vehicle maker BYD rose 4.22%, Xpeng was trading 14.46% higher, and Li Auto gained 9.35%.
The gains come after US President Donald Trump paused tariffs on Mexico for a month and postponed tariffs on Canadian exports. This news helped to alleviate pressure on Asian tech stocks that had been impacted by worries over US-China trade tensions. The latest gains are a reversal from the weakness seen in some stocks last week, but the rally mostly got stalled Monday due to tariff concerns.
Source: https://www.cnbc.com/2025/02/04/asia-tech-stocks-rise-after-trump-pauses-tariffs-on-china-and-mexico.html