Taiwan's TSMC drops most in nearly 6 months on flagging annual sales drop

Hua Hong Grace Semiconductor

21/07/2023 03:07

** Shares of the world's largest contract chipmaker Taiwan
Semiconductor Manufacturing Co Ltd  2330.TW  (TSMC) fall as much
as 3.8% to T$557, lowest since June 8, and on course for the
second session of decline
    ** Stock set for the biggest one-day fall since Jan. 31, if
losses hold; tracking a 5% drop in the U.S.-listed shares
 TSM.N   
    ** The broader Taiwan SE Weighted Index  .TWII  falls 1.3% 
    ** The Taiwanese chipmaker TSMC flagged a 10% drop in 2023
sales with global economic woes denting demand for chips used in
everything from cars to cellphones and said production due to
start next year at its first plant in Arizona would be delayed 
    ** US chip companies and European semiconductor stocks fell
on Thursfday after TSMC's 23.3% Q2 net profit drops and its
gloomy outlook 
    ** In Hong Kong, Chinese chip makers Hua Hong Semiconductor
 1347.HK  and Semiconductor Manufacturing International Corp
(SMIC)  0981.HK  down 1.2% and 1.4% respectively. That compares
to a 0.3% slip in the benchmark Hang Seng Index  .HSI 
    ** As of the last close, TSMC's Taiwan shares had surged
29.1% this year


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))