Japan's Nikkei trades higher as iPhone-related stocks jump

Murata Manufacturing Co

14/04/2025 01:37

TOKYO, April 14 (Reuters) - Japan's Nikkei share average traded higher early on Monday as iPhone-related shares jumped after the U.S. administration granted exclusions from steep tariffs on smartphones and other electronics imported largely from China.

As of 0030 GMT, the Nikkei .N225 had gained 2% to 34,267.97. The broader Topix .TOPX was up 1.87% at 2,513.03.

U.S. President Donald Trump's administration granted exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China, providing a big break to tech firms like Apple AAPL.O that rely on imported products.

However, both Trump and U.S. Commerce Secretary Howard Lutnick said over the weekend these goods will come under separate tariffs, along with semiconductors, that may be imposed in a month or so.

Trump announced hefty reciprocal tariffs on dozens of countries on April 2, triggering a market rout, but reversed them with a 90-day freeze a week later, just after they went into effect. A 10% blanket duty on almost all U.S. imports remains in effect. The White House had announced the exclusions from steep reciprocal tariffs on Friday.

In Japan, Apple's AAPL.O i-phone component supplier Murata Manufacturing 6981.T jumped 4.5%. Another smartphone-related stock TDK 6762.T surged 6.1%. Chip-testing equipment maker Advantest 6857.T jumped 5.8%.

All of the Tokyo Stock Exchange's 33 industry sub-indexes rose, with the drug sector .IPHAM.T rose 3.5% to become the top performer.

 (Reporting by Junko Fujita; Editing by Tom Hogue)

 ((junko.fujita@thomsonreuters.com;))