The US government announced that it would impose new restrictions on China's imports of US semiconductor technology, including restrictions on the export of certain types of chips for artificial intelligence and supercomputing. In the early morning of Tuesday (October 11), Asian chip stocks fell sharply, with no exception from Taiwan, Japan and South Korea.
According to Bloomberg, semiconductor stocks in the three regions fell sharply, following the decline of global stocks on Monday (10th). Taiwan was closed for a public holiday on Monday. After re trading on Tuesday, TSMC's share price fell 7.1%, the biggest drop since May 2021, and has fallen more than 30% this year
It is reported that Samsung Electronics once fell 3.9%, the biggest drop in a year; SK Hynix fell 3.5% at one time, and Tokyo Electronics fell 5.3% at one time.
The Philadelphia Semiconductor Index fell 3.5% overnight to its lowest level since November 2020. Last Friday (7th), the United States announced the implementation of export restrictions, coupled with the disappointing start of the earnings season, investors worried that the decline in the semiconductor industry is far from over.
Morgan Stanley analyzed that the US semiconductor export control against China, especially the broader restrictions on supercomputers and transnational capital investment, may have a "destructive" impact.
