ASML Holding NV (ASML) shares surged 5.01% in pre-market trading on Monday, as European technology stocks rallied following a significant breakthrough in U.S.-China trade relations. The Dutch semiconductor equipment manufacturer's stock price jump comes in response to an agreement between the United States and China to suspend most tariffs on each other's goods while further trade negotiations continue.

The positive development in trade talks, which took place in Switzerland, has triggered broad-based gains across European stocks, with the tech sector seeing particularly strong momentum. ASML's peers in the semiconductor industry also experienced substantial gains, with ASM International and BE Semiconductor Industries rising 6.8% and 5.9%, respectively. Other European chip makers, including Infineon and STMicroelectronics, saw their shares climb more than 6%.

This surge in ASML's stock price and that of its peers underscores the sensitivity of the semiconductor industry to global trade dynamics, particularly between the U.S. and China. As one of the world's leading suppliers of photolithography systems for the semiconductor industry, ASML stands to benefit significantly from any easing of trade tensions that could potentially boost demand for advanced chips and related manufacturing equipment.