Technology stocks were advancing premarket Tuesday, with The Technology Select Sector SPDR Fund (XLK) up 0.4% and the SPDR S&P Semiconductor ETF (XSD) 1.7% higher.

ChipMOS Technologies (IMOS) shares were up past 4% after the company said it has authorized a share repurchase program totaling up to 350 million New Taiwan dollars ($10.7 million).