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.

President Donald Trump signaled Monday that more tariff relief could be on the way for auto manufacturers after he already provided the industry with a one-month pause related to tariffs on goods from Canada and Mexico imposed on March 4.