Taiwan tech stocks extend sell-off, TSMC down 2.5%

MediaTek

22/07/2024 03:55

** Taiwanese tech stocks fall further amid geopolitical
uncertainty, with chipmaker TSMC  2330.TW  down 2.5%, major
Apple  AAPL.O  supplier Foxconn  2317.TW  off some 5% and top
chip designer MediaTek  2454.TW  dropping more than 4%
    ** Benchmark Taiwan SE weighted Index  .TWII  down as much
as 3% in morning trade
    ** TSMC in particular has been under pressure since last
week following comments from Donald Trump, the U.S. Republican
presidential candidate, that Taiwan should pay to be defended
and accusing the island of stealing American chip business
    ** TSMC's business is on a roll though, as the world's top
contract chipmaker on Thursday posted market-beating
second-quarter earnings and raised its full-year revenue
forecast given surging demand for chips used in artificial
intelligence