Asian chip stocks tumble on fear of US mulling tighter curbs on tech export

Quick Summary:

Among the worst hit were shares of Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker, which has shed roughly $61.

The Global X Asia Semiconductor ETF was down 2.7 per cent, reducing gains for the year to 13.5 per cent.

ASML shares fell more than 10 per cent on Wednesday, despite forecast-beating second-quarter earnings that showed a rise in artificial intelligence-linked bookings.

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Category: BusinessFinance

Markets: IndiaChinaHong KongJapanSouth KoreaNetherlandsTaiwanUnited States

Topics: Tsmc share Semiconductor industry Asian chip market Chip export

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 10:18:31 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 704 words

Reading Time: 4 minutes read

Sentences: 24 lines

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Copyright Owner: © Business Standard

News ID: 21670006

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