Asian Chip Stocks Fall on U.S. Curbs of Tech Exports to China

Shares of Asia’s largest semiconductor makers and suppliers declined Tuesday as investors expressed fear about broad ramifications on the sector from new U.S. restrictions on exporting chips and related equipment to China.

Taiwan Semiconductor Manufacturing Co., the world’s biggest contract chip maker, dropped 8.3% to its lowest closing in more than two years. TSMC has chip fabrication facilities—or fabs—in China, including in the eastern city of Nanjing.