TAIPEI (Taiwan News) — The Taiwan stock market rebounded slightly Tuesday after US President Donald Trump temporarily suspended tariffs on goods imported from Canada and Mexico, easing some investor concerns.

The Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) closed up 99.25 points at 22793.96, recovering from Monday’s sharp 830.7-point drop. Turnover totaled NT$408.9 billion (US$12.44 billion), per CNA.

Major tech stocks delivered mixed results. TSMC gained NT$25 (76 cents), closing at NT$1,095, providing strong support to the market. Meanwhile, Foxconn erased early gains, slipping NT$0.5 to close at NT$165, while MediaTek fell NT$10 to NT$1,490.

The high-priced stock sector performed well. Alchip Technologies, a beneficiary of Chinese AI startup DeepSeek, climbed to the daily limit of NT$3,245.

Aspeed Technology also advanced NT$105, closing at NT$3,300. EMemory, ASMedia, and Global Unichip all posted gains of more than 2% at closing.

Cathay Securities Investment Consulting Manager Tsai Ming-han (蔡明翰) said the market rebounded mainly due to Trump’s temporary tariff suspension, offering investors some relief. However, he warned that the trade war is far from over, as Trump has signaled potential tariffs on more countries and product categories.

Observing the impact of Trump's trade and technology wars during his previous term, the effects of Trump's policies on the stock market are expected to persist for some time, Tsai noted. He expects market volatility to persist as the long-term effects of tariff policies continue to unfold.