Chipmaker rout engulfs TSMC, Samsung

The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan. REUTERS/Ann Wang

TOKYO: Chip-related stocks in Japan, South Korea and Taiwan slumped, contributing to a wipeout of more than US$240bil (RM1.1 trillion) from the sector’s global market value after the Biden administration imposed curbs on China’s access to semiconductor technology.

Taiwan Semiconductor Manufacturing Co or TSMC, the world’s largest contract chipmaker, plunged a record 8.3% yesterday. Samsung Electronics Co and Tokyo Electron Ltd also tumbled on concern US efforts to ensure international cooperation will crimp their ability to export to China.