Taiwan stocks down more than 4% in mixed Asia trade as TSMC plunges 8%

Pedestrians cross a street in front of the Tokyo Stock Exchange, operated by Japan Exchange Group, in Tokyo, Japan.

Toru Hanai | Bloomberg | Getty Images

Asia-Pacific stocks were mixed on Tuesday, while Taiwan’s benchmark fell more than 4% on its return to trading after a holiday, as investors weighed the impact of new US rules on chipmaker TSMC.

Markets in Japan and South Korea also resumed trading after a public holiday on Monday. The Nikki 225 down 2.6% and the Topix lost 1.9%. In South Korea, the Kospi fell 2.35% and the Kosdaq lost 4.3%.

that of Hong Kong Hang Seng Index fell 1.56% and the Hang Seng Tech index fell 2.96%. In Australia, the S&P/ASX 200 gave up earlier gains and was about stable.

The Shanghai Composite in mainland China gained 0.4% and Shenzhen Component increased by 0.876%. MSCI’s broadest index of Asia-Pacific stocks outside Japan fell nearly 2%.

“Stocks continue to sell off as the impact of tighter monetary policy spooks investors,” analysts at ANZ Research wrote in a note on Tuesday.

Overnight on Wall Street, the Nasdaq Composite closed at its lowest since July 2020, down 1.04% at 10,542.10, dragged lower by a slump in semiconductor stocks.

The S&P 500 also slipped 0.75% to 3,612.39, while the Dow Jones Industrial Average lost 93.91 points, or 0.32%, to close at 29,202.88.

– CNBC’s Carmen Reinicke and Alex Harring contributed to this report.

Leave a Comment

Your email address will not be published. Required fields are marked *