But shares in TSMC, the world's largest contract chipmaker have slipped, after US President Donald Trump said he would announce a tariff rate on imported semiconductors over the next week. He did add however, that there would be flexibility on some companies in the sector.

Markets on Monday welcomed a US tariffs reprieve for electronics, but President Donald Trump warned no country would get "off the hook" in his trade war -- especially China.

President Trump’s “Liberation Day” tariffs came under their first major legal challenge Monday, brought by a libertarian public-interest firm that argues the president overstepped his authority. Trump’s April 2 announcement imposed a baseline 10 percent tariff on imports and targeted dozens of countries with higher “reciprocal” tariffs.