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]