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Asian Tech Stocks Gain as US Temporarily Pauses Tariffs
Asian Tech Stocks Gain as US Temporarily Pauses Tariffs
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Asian tech stocks, including Taiwan’s Foxconn, Quanta, and Inventec, posted gains as the US temporarily paused some tariffs. Foxconn, Apple’s largest iPhone assembler, rose about 4% during Monday morning trading, while Quanta showed a 7% jump. Inventec also rose by 4%. China-based Apple suppliers Goertek and Lens Tech increased by 3% and 1.1%, respectively. Samsung Electronics, which supplies Apple and holds the second spot in the US smartphone market, advanced by 2%. Japan’s Nikkei added 1.81%, although it has swung between sharp ups and downs in recent days due to changing headlines about the tariff situation.
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