Investing.com-- Shares of major Asian semiconductor manufacturers rallied on Thursday after U.S. President Donald Trump announced a 90-day suspension of certain tariffs, easing concerns over escalating trade tensions.

The tariff pause reduces newly imposed reciprocal tariffs to 10% on goods from 57 major trading partners, including Japan, South Korea, and Taiwan, allowing time for further negotiations.

The announcement led to significant gains among leading Asian chipmakers, with Taiwan Semiconductor Manufacturing Co (TW: 2330 ) shares surging 10%.

The South Korean tech giant Samsung Electronics Co Ltd (KS: 005930 ) saw its stock rise by 5%

SK Hynix Inc (KS: 000660 ), another South Korean firm, experienced a 10% jump in its share price.

The Taiwanese semiconductor company MediaTek Inc’s (TW: 2454 ) shares climbed 9.7%.

The Japanese chipmaker Renesas Electronics Corp (TYO: 6723 ) shares soared 14%.

Hong Kong-listed shares of Chinese chipmaker Semiconductor Manufacturing International Corp (HK: 0981 ) jumped 6%.

The surge was despite the exclusion of China from the tariff pause, with duties on Chinese goods increasing to 125%.

China’s Hua Hong Semiconductor Ltd (HK: 1347 ) also added more than 4% in Hong Kong trading.

The rally signals relief over the temporary easing of trade barriers, which had threatened to disrupt supply chains and increase costs for these companies.