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.

Confusion over President Donald Trump’s tariffs remains following a weekend of questions around trade in consumer electronics.

Trump has described the tariffs as "reciprocal," saying the steep toll will correct a grievance he's held for "35 years:" that the U.S. is being "ripped off" by trade imbalances. The president has claimed the tariffs will prompt countries to try to negotiate a deal with the U.