Traders Dump TSMC, Samsung in Worst Day in Asia Tech Since March
- MSCI Asia Pacific gauge of tech shares slips as much as 3.3%
- Taiwan benchmark sinks as much as 5% while Kospi slides 3.7%
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Asia technology shares slumped Thursday as investors reacted to a series of negative events from the simmering Sino-U.S. trade tensions to stretched valuations in the sector.
The MSCI Asia Pacific Information Technology Index slipped as much as 3.3%, the most intraday since March 23. Taiwan Semiconductor Manufacturing Co., which has the biggest weighting on the index, slid as much as 6.2%, while Samsung Electronics Co., another heavyweight, ended 4.2% lower after Nvidia Corp. suggested the growth of its data center business will slow.