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Taiwan shares suffered their third-biggest crash on record on Tuesday, after reports emerged that China had made a major breakthrough in semiconductor technology. Asian markets melted down, with a 10% drop in South Korea and a 4% fall in Japan. In Taiwan, TSMC shares collapsed, and companies like Delta Electronics, Mediatek, and UMC closed limit-down, as did many memory and component firms. The Index shed 2,030 points, or 4.65% to close sharply down at 41,603 points.
The market panic stemmed from a report by American tech media outlet “The Information.” The headline rads “China begins mass production of homegrown DUV chip tools.” The plan is reportedly to produce five immersion deep-ultraviolet lithography machines in 2026, with an output target of 20 in 2027. The news has been seen as a break away from the monopoly led by Dutch firm ASML, which triggered a collective sell-off in global semiconductor equipment stocks. But, an analyst at JPMorgan believes the crash was an overreaction driven by market sentiment, as ASML maintains a significant technological and production lead over its Chinese competitors.
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#tech #china #shares #stocks #stockmarket #tsmc #chips #semiconductor
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