Asian shares climbed on Thursday, posting their biggest gain in two weeks, after U.S. President Donald Trump’s threat of imposing 100% tariffs on chip exporters came with exemptions for companies investing in the United States, such as Apple Inc.
MSCI’s gauge of Asian stocks jumped 0.8%, while U.S. equity-index futures also edged higher. Contracts for the S&P 500 and Nasdaq 100 gained 0.3%, and European futures traded in positive territory.
Technology stocks led the rally in Asia, with Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. posting strong gains following news of the tariff exemptions.
Oil prices also rebounded after a five-day losing streak—the longest since May—as investors responded to renewed U.S. actions aimed at punishing Russian crude buyers and Trump’s diplomatic efforts to end the war in Ukraine.
Bond markets retreated slightly, with the yield on 10-year U.S. Treasuries rising by two basis points to 4.25%. Meanwhile, the dollar held steady after a four-day decline.
Market sentiment improved markedly after Trump clarified that companies producing goods domestically would be exempt from the proposed tariffs, alleviating fears of further supply chain disruptions and boosting global investor confidence.
