Taiwan stocks down 3% in mixed Asia trade as TSMC plunges 6%

Taiwan stocks down 3% in mixed Asia trade as TSMC plunges 6%

Shares in the Asia-Pacific were mixed on Tuesday, while Taiwan’s benchmark index dropped more than 3% on its return to trade as investors weighed the impact of new U.S. rules on chipmaker TSMC.

Japan and South Korea’s markets also resumed trading after a holiday on Monday. The Nikkei 225 fell around 2% and the Topix lost about 1.5%. In South Korea, the Kospi fell 2.16% and the Kosdaq shed 3.5%.

Hong Kong’s Hang Seng index fell 0.91% and the Hang Seng Tech index dropped 1.11%. The Shanghai Composite and Shenzhen Component in mainland China were little changed.

In Australia, the S&P/ASX 200 bucked the overall trend and was 0.27% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 1.41%.

“Equities continue to sell off as the impact of tighter monetary policy spooks investors,” ANZ Research analysts wrote in a note Tuesday.

https://www.cnbc.com/2022/10/11/asia-markets-interest-rates-economy-stocks-currencies.html