Chip Stock Carnage Seeps Into Asia With $11 Billion Lost
- Softbank Group slides as Vision Fund has stake in Nvidia
- Tokyo Electron, Advantest Corp bore brunt of losses in Japan
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The chipmaking sector saw another bout of selling in Asia, wiping at least $11.2 billion in market value, as weak forecasts from Nvidia Corp. and Applied Materials Inc. added to the latest signals that demand for servers, personal computers and mobile is falling.
“In the short term, weaker demand, weaker end-demand is beginning to materialize,” Amir Anvarzadeh, a senior strategist at Asymmetric Advisors in Singapore, said by phone. “Expectations are still too high despite the recent declines. Whether it’s Advantest or whether it’s Disco, or whether it’s Tokyo Electron, those are the equipment guys that will see the impact, and they’re already seeing it.”