December 9, 2022

Taiwan stocks fell more than 4% in mixed Asian trade as TSMC fell 8%

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

Toru Hanoi | Bloomberg | Good pictures

Asia-Pacific shares were mixed on Tuesday, while Taiwan’s benchmark index fell 4.35% to 13,106.03, returning to trade after a holiday. Investors weighed the impact of new US rules on chipmaker TSMC.

Markets in Japan and South Korea also resumed trading after a holiday on Monday. The Nikki 225 It fell 2.64% to 26,401.25, while the Topix lost 1.86% to 1,871.24. In South Korea, the Cosby It fell 1.83% to 2,192.07, while Costco lost 4.15% to 669.50.

of Hong Kong Hang Seng Index It fell 2% in the final hour of trading and the Hang Seng Tech index fell 3.16%. In Australia, the S&P/ASX 200 It ended 0.34% lower at 6,645, giving up earlier gains.

Mainland China markets edged higher regionally Shanghai Mix earns 0.19% and Shenzhen component Up 0.529%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell about 2%.

“Stocks continue to sell off as the impact of tighter monetary policy spooks investors,” 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% to 10,542.10, dragged down by declines in semiconductor stocks.

The S&P 500 fell 0.75% to 3,612.39, while the Dow Jones Industrial Average lost 93.91 points, or 0.32%, to 29,202.88.

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