Taiwan tech supply chain stocks bounce back after Trump tariff exemptions

About this update from Foxconn Technology Co., Ltd.

Stocks in Taiwanese tech companies that are major suppliers to companies like Apple rose on Monday after the U.S. government granted temporary exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China.Shares in Foxconn TWSE:2317, Apple's NASDAQ:AAPL largest iPhone assembler, gained around 4% in Monday morning trade, with contract laptop maker Quanta TWSE:2382 up 7% and Inventec TWSE:2356 - which also makes artificial intelligence servers - rising 4%.The broad index TWSE:TAIEX was up around 1%.However, shares in TSMC TWSE:2330, the world's largest contract chipmaker, slipped into the red having opened up, after U.S. President said he would he announcing a rate on imported semiconductors over the next week, though added there would be flexibility on some companies in the sector.Alex Huang, vice president of Mega International Investment Services, said the market on Monday morning was reacting to Trump's exemption announcement, but the reaction may be too early as details are still to come out."It's impossible that semiconductors will be exempt from the tariffs, as that would eliminate the need for any bargaining chips in talks with the United States," he added.TSMC is due to report first-quarter earnings on Thursday.

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