Asian equities rose Thursday, with big-name chip firms making big gains after Donald Trump said those investing in the United States would be exempted from a threatened 100-percent tariff on semiconductors.

The advances built on a strong lead from Wall Street and extended the previous day's rally fuelled by hopes the Federal Reserve will cut interest rates next month.

A day before sweeping tariffs were due to come into effect on dozens of countries, the president said: "we're going to be putting a very large tariff on chips and semiconductors".

He added that the level would be "100 percent" but did not offer a timetable.

However, he said "the good news for companies like Apple is, if you're building in the United States, or have committed to build... in the United States, there will be no charge".

Stock gains were led by Taiwan's giant TSMC, which surged almost five percent in early trade, with the island's National Development Council chief Liu Chin-ching saying the firm was in the clear.

"Because Taiwan's main exporter is TSMC, which has factories in the United States, TSMC........

© International Business Times