HONG KONG (AP) — Asian markets rallied on Monday as tensions over trade eased slightly after U.S. President Donald Trump said electronics such as phones and laptops would not be subject to the same high import duties as some other products.

U.S. futures also advanced after U.S. stocks jumped Friday. However, a weakening in the U.S. dollar and lower oil prices hinted at persisting worries over the direction of Trump’s trade war.

Japan's Nikkei 225 rose 1.8% to 34,189.37 and South Korea's Kospi gained 0.8% to 2,452.42.

Shares in technology companies surged, with Tokyo Electron up 2% and Advantest, a testing equipment maker, up 5.4%. South Korea's biggest company, Samsung Electronics, gained 1.4%.

Hong Kong's Hang Seng jumped 2.4% to 21,419.59, while the Shanghai Composite index picked up 0.9% to 3,266.26 after the government reported that China's exports surged 12.4% in March from a year earlier.

U.S. President Donald Trump said he was exempting smartphones, computers and other electronics from his tariffs after China announced Friday that it was boosting its tariffs on U.S. products to 125% in the latest tit-for-tat increase following Trump’s escalations on imports from China.

The Chinese Ministry of Commerce said Trump's move was “a small step” toward fixing its wrongful action of what Trump calls reciprocal tariffs. It urged him to completely cancel them.

Rising tensions between the world’s two largest economies could cause widespread damage and a possible global recession, even after Trump recently announced a 90-day pause on some of his tariffs for other countries, except for China.

Australia’s S&P/ASX 200 added 1.5% to 7,758.70.

The Taiex rose 0.6% in Taiwan, whose economy is heavily dependent on exports of computer chips and other high-tech goods.

On Friday, the S&P 500 rose 1.8% to 5,363.36, capping a chaotic and historic week. The Dow Jones Industrial Average gained 1.6% to 40,212.7, while the Nasdaq composite jumped 2.1% to 16,724.46.

Stocks kicked higher as pressure eased a bit from within the U.S. bond market . It’s typically the more boring corner of Wall Street, but it’s been flashing serious enough signals of worry this week that it’s demanded investors' and Trump’s attention.

The yield on the 10-year Treasury was trading at 4.466% early Monday. On Friday, it topped 4.58% in the morning, up from 4.01% a week ago. That’s a major move for a market that typically measures things in hundredths of a percentage point.

Bond yields typically fall in times of alarm. Investors outside the United States could be selling their U.S. bonds because of the trade war, and hedge funds could be selling whatever’s available to raise cash to cover other losses. More worryingly, doubts may be rising about the United States’ reputation as the world’s safest place to keep cash because of Trump’s frenetic, on-and-off tariff actions.