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Asian stocks advanced on Monday, with technology<\/span> stocks leading the surge after the Trump administration decided to exempt certain consumer electronics from its so-called reciprocal tariffs.<\/p>\n However, both President Trump and U.S. Commerce Secretary Howard Lutnick clarified that phones, computers and popular consumer electronics will come under separate tariffs, along with semiconductors, that may be imposed in a month or so.<\/p>\n The dollar remained weak in Asian trade and gold hele near a record high while oil prices edged up after Chinese data showed a sharp rebound in crude imports in March.<\/p>\n Chinese shares rose as the U.S. paused some tech tariffs and data showed Chinese exports experienced a remarkable 12.4 percent in March as a result of increased shipments ahead of impending U.S. tariffs.<\/p>\n The benchmark Shanghai Composite index gained 0.76 percent to close at 3,262.81 while Hong Kong’s Hang Seng index climbed 2.40 percent to 21,417.40.<\/p>\n Japanese markets<\/span> ended higher as iPhone-related shares jumped after the Trump administration excluded smartphones and other electronics from steep tariff.<\/p>\n The Nikkei average jumped 1.18 percent to 33,982.36 while the broader Topix index settled 0.88 percent higher at 2,488.51.<\/p>\n Nvidia supplier Advantest surged 4.9 percent, fellow chip-equipment maker Tokyo Electron added 1.4 percent and Screen Holdings rallied 3.9 percent. <\/p>\n Japan at the weekend said it wasn’t planning to use its U.S. Treasury holdings as a negotiating tool to counter U.S. tariffs.<\/p>\n Seoul stocks rose sharply, with the Kospi average climbing 0.95 percent to 2,455.89 on eased tariff woes. <\/p>\n Parts maker LG Innotek Co., which gets the bulk of its revenue from Apple Inc., jumped 5.8 percent. Samsung Electronics and LG Energy Solution both rose around 2 percent. <\/p>\n Australian markets started the week on a buoyant note amidst tariff relief and positive commentary from a Federal Reserve official. <\/p>\n The benchmark S&P\/ASX 200 rose 1.34 percent to 7,748.60, led by materials and energy stocks. The broader All Ordinaries index closed up 1.35 percent at 7,959.70.<\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index ended up 0.74 percent at 12,107.54.<\/p>\n U.S. stocks rose sharply on Friday after White House press secretary Karoline Leavitt said President Donald Trump is “optimistic” about reaching a trade deal with China.<\/p>\n However, two senior White House officials told CNN that the U.S. will not reach out to China first and that Chinese President Xi Jinping must request a call with Trump.<\/p>\n Meanwhile, Boston Federal Reserve President Susan assured markets that the Fed is prepared to keep financial markets functioning should the need arise.<\/p>\n On the earnings front, JPMorgan Chase, Morgan Stanley and Wells Fargo all reported better-than-expected profits but warned of a potential economic slowdown due to trade disputes.<\/p>\n In economic news, data showed U.S. consumer sentiment plummeted in April, accompanied by a surge in 12-month inflation expectations to levels unseen since 1981.<\/p>\n The tech-heavy Nasdaq Composite rallied 2.1 percent, the S&P 500 surged 1.8 percent and the Dow added 1.6 percent. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n