May 30, 2024

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Taiwan stocks fall more than 4% in mixed Asian trade with TSMC down 8%

Taiwan stocks fall more than 4% in mixed Asian trade with TSMC down 8%

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

Toru Hanai | Bloomberg | Getty Images

Shares in the Asia-Pacific region were mixed on Tuesday, while Taiwan’s benchmark index fell more than 4% upon returning to trading after a holiday, As investors weigh the impact of new US rules on chip maker TSMC.

Markets in Japan and South Korea also resumed trading after Monday’s holiday. The Nikkei 225 It fell 2.6% and Topix 1.9%. in south korea, Cosby The index fell 2.35 percent and the KOSDAQ 4.3 percent.

Hong Kong Hang Seng Index The Hang Seng Technology Index is down 1.56% and down 2.96%. in Australia , S & P / ASX 200 He gave up earlier gains and was on the verge of stabilizing.

The Shanghai boat In mainland China gain 0.4% and Shenzhen Component It rose by 0.876%. MSCI’s broadest index of Asia Pacific shares outside Japan is down about 2%.

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

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

The S&P 500 also fell 0.75% to 3612.39, while the Dow Jones Industrial Average fell 93.91 points, or 0.32%, to close at 29,202.88.

CNBC’s Carmen Renick and Alex Haring contributed to this report.