Chipmaker Rout Engulfs TSMC, Samsung With $240 Billion Wiped Out

Markets in Korea, Japan and Taiwan return from Monday holiday
Selloff extended to currency markets, with Korean won falling

WATCH: Randy Abrams of Credit Suisse discusses the downside risks faced by Asian foundries in the wake of expanding US technology curbs that will restrict the export of some types of chips used in AI and supercomputing as well as sales of chip equipment to Chinese companies.Source: Bloomberg

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By Naoto Hosoda and Ishika Mookerjee

October 11, 2022 at 12:50 AM UTC

Updated on

October 11, 2022 at 9:12 AM UTC

This article is for subscribers only.

Asia’s top chip stocks tumbled Tuesday, ensnared in an escalating US-China tech race that has erased more than $240 billion from the sector’s global market value.

Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, plunged a record 8.3% while Samsung Electronics Co. and Tokyo Electron Ltd. also declined. The selloff spread to the foreign-exchange market as investors tallied up the damage from the sweeping curbs the US is imposing on companies that conduct technology business with China.