Stock market today: The stock markets in Asia were trading in positive territory on Monday, April 14, after the White House exempted smartphones and computers from “reciprocal” US tariffs. However, gains were limited as President Donald Trump warned levies were still likely at some point.

During the weekend, the Trump administration granted exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China, providing a big relief to tech firms such as Apple that rely on imported products.

China said it was evaluating the impact of the exclusions. In a statement on Sunday, the Ministry of Commerce called the move a “small step by the US to correct its wrong practice of unilateral ‘reciprocal tariffs’,” said a Reuters report.

However, Trump on Sunday told reporters tariffs on semiconductors would be announced over the next week and a decision on phones made “soon”.

Asian market update

MSCI’s broadest index of Asia-Pacific shares outside Japan was trading 1.6% higher after tumbling more than 4% last week.

Chinese blue chips gained 0.5%, with suppliers of Apple gear doing well. When last seen, Japan’s Nikkei was trading 1.6% higher, after fluctuating wildly in recent days in response to the changing tariff news.

“Japanese officials are gearing up for trade negotiations with the United States that will likely touch on currency policy, with some officials privately bracing for Washington to call on Tokyo to prop up the yen,” said a Reuters report.

Futures market

After an initial jump, S&P 500 futures pared gains to be up 0.8%, while Nasdaq futures rose 1.2%. EUROSTOXX 50 futures firmed 2.6%, while FTSE futures added 1.8% and DAX futures 2.2%.

US dollar update

The US dollar was under pressure at 142.80 yen after hitting a six-month low at 142.05 last week. It was pinned at 0.8169 Swiss francs, having shed more than 5% last week to the lowest in a decade, Reuters reported.

Gold prices update

The yellow metal continued to shine brightly as the price of the precious metal surged to an all-time peak at $3,245 an ounce on Monday.

According to news reports, Goldman Sachs has increased its year-end price target for gold to $3,700 per ounce amidst ongoing economic uncertainties.

The bank’s recent note highlights gold’s robust recovery following the April 2 tariff-driven market selloff, which initially saw the metal’s value decrease by 5%.

This marks the third adjustment by Goldman Sachs this year, with a notable 12% increase in its forecast.

Oil price update

Oil prices fell in the early trade on Monday as concerns over weak global economic growth and fuel demand over the escalating trade war between the United States and China impacted sentiment.

At the time of writing this article, Brent crude futures were down 23 cents, or 0.36%, at $64.53 a barrel. US West Texas Intermediate crude futures were trading at $61.28 a barrel, down 22 cents, or 0.36%.

(With inputs from Reuters)