Japan's Nikkei share average rose on Monday, led by iPhone-linked shares after the United States exempted smartphones and other electronics from high tariffs.
As of 0218 GMT, the Nikkei was up 1.5% at 34,086.16, after rising as much as 2.22% earlier in the session.
The broader Topix gained 1.45% to 2,502.86.
"The market is still being influenced by various headlines," said Yugo Tsuboi, chief strategist at Daiwa Securities.
"And none of them are good enough to encourage investors to take their positions with confidence."
The Trump administration has exempted smartphones, computers and some other electronics mostly imported from China from high tariffs, providing a major relief to tech companies such as Apple (NASDAQ:AAPL) that rely on imports.
But both Trump and U.S. Commerce Secretary Howard Lutnick said over the weekend that those goods would be subject to separate tariffs, along with semiconductors, that could come into effect in about a month.
Trump had announced large, reciprocal tariffs on dozens of countries on April 2, triggering a market rout, but reversed that with a 90-day freeze soon after the tariffs went into effect.
A blanket 10% tariff on nearly all U.S. imports remains in place.
The Nikkei has fallen 4.23% since Trump's so-called "Liberation Day," after posting a big swing last week. The sudden move underscored investor anxiety as they try to gauge the impact of U.S. trade policy.
However, smartphone and chip-related stocks rose on Monday. Murata Manufacturing, which supplies components for the iPhone, rose 1.43%, and electronics parts maker TDK (OTC:TTDKY) jumped 5.2%. Chip-testing equipment maker Advantest rose 3.84%. Of the more than 1,600 stocks traded on the Tokyo Stock Exchange's main market, 89% were up and 9% were down, with 1% flat. (Newsmaker23)
Source: Investing.com
