Market cap of local IC sector shrinks by over NT$140 billion

Focus Taiwan
Date: 2017/06/12
By: Jackson Chang and Frances Huang

Taipei, June 12 (CNA) The market capitalization of semiconductor companies listed on Taiwan’s stock market shrank by more than NT$140 billion (US$4.64 billion) on Monday after a sell-off of tech stocks in the United States at the end of last week.

The semiconductor sub-index on Taiwan’s main board shed 1.33 percent Monday, with Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) falling 2.12 percent to close at NT$207.50, after the Philadelphia Semiconductor Index on Wall Street shed 4.23 percent on Friday.

Due to the losses, TSMC’s market cap was cut by NT$116.6 billion, which sent the accumulated market cap of Taiwan’s IC sector down NT$146.7 billion on Monday.

The IC sector weakened as investors reacted to a 6.46 percent plunge suffered by U.S.-listed IC chip supplier NVidia Corp., which closed at US$149.60 after a research note said the stock could fall to test US$130, analysts said.    [FULL  STORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.