Daily Times

Taiwan stocks down more than 4% in mixed Asia trade

Shares in the Asia-Pacific were mixed on Tuesday, while Taiwan’s benchmark index fell 4.35% to 13,106.03 on its return to trade after a holiday, as investors weighed the impact of new U.S. rules on chipmaker TSMC.

Japan and South Korea’s markets also resumed trading after a holiday on Monday. The Nikkei 225 fell 2.64% to 26,401.25 and the Topix lost 1.86% to 1,871.24. In South Korea, the Kospi fell 1.83% 2,192.07 and the Kosdaq shed 4.15% to 669.50.

Hong Kong’s Hang Seng index fell 2% in the final hour of trade and the Hang Seng Tech index dropped 3.16%. In Australia, the S&P/ASX 200 gave up earlier gains to closed 0.34% lower at 6,645.

Taiwan stocks down more than 4% in mixed Asia trade

Mainland China markets bucked the trend regionally, with the Shanghai Composite gaining 0.19% and the Shenzhen Component rising 0.529%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell around 2%.

“Equities continue to sell off as the impact of tighter monetary policy spooks investors,” ANZ Research analysts wrote in a note 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 shed 93.91 points, or 0.32%, to close at 29,202.88.