Titanium Media App learned that as of 15 pm on October 11, the chip semiconductor sectors in Shanghai and Shenzhen continued to weaken, while chip-related stocks in the United States, Japan, South Korea and Hong Kong, China saw a sharp drop. The main reason is that the US Department of Commerce recently announced new export controls on chips in China, and the poor financial performance of semiconductor companies has triggered market sell-offs.
data shows that since the close of Thursday, the stock prices of chip companies such as TSMC, Nvidia, AMD, Samsung Electronics have plummeted, causing the industry's global market value to lose more than US$240 billion.
Among them, A shares semiconductor sector continued to lead the decline today, and many stocks staged a limit down. As of the closing at 15:00 pm, Northern Huachuang (002371.SZ) fell 10%, closing at RMB 225.5 per share; Haiguang Information (688041.SH) fell 19.25%; Shengmei Shanghai (688082.SH) fell 16.66%; Anji Technology (688019.SH) fell 13.29%; Yake Technology (002409.SZ) fell 9.97%; Qingyi Optoelectronics , Tuojing Technology, Huahai Qingke fell more than 10%; Zhichun Technology, Ruixin Micro , China Micro Company , Gigabit Innovation , Xinyuan Shares, Helin MicroNan and others followed suit.
At the same time, the two major stock kings of Asia-Pacific, TSMC (2330.T) and Samsung Electronics (005930.KS), also fell on October 11.
Due to the closing of the market on Monday, when the market opened on Tuesday, TSMC's stock price plummeted by 8.3%, the record-breaking decline, with its stock price falling by more than 30% this year; Samsung Electronics' trading in South Korea fell by 1.42%, the largest drop of the year; Tokyo Electronics (OTCMKTS: TOELY) fell by 5.8%; SK Hynix opened at a 3.5% decline on Tuesday, narrowing after it opened.
U.S. stocks , Philadelphia Semiconductor ETF Index continued to fall 3.5% on Monday, closing at its lowest level since November 2020, and plummeted by more than 9% in the past two trading days. The decline in
has also dragged down US semiconductor companies' stocks. Among them, chip design giant Qualcomm (NASDAQ:QCOM) fell 6.31 US dollars on Monday, down 5.2%, to $114.60; Nvidia (NASDAQ:NVDA) fell 3.36%; Broadcom (NASDAQ:AVGO) fell 5% to close at $437.70 per share; Semiconductor Materials Company Applied Materials (NASDAQ:SMAT) closed down 4.13%; Colin R&D fell more than 6%. Among the 11 stocks in the S&P 500 index , technology stock fell 1.6%, with the worst performance. At
15, the decline in U.S. stock futures expanded, Nasdaq futures and S&P 500 futures fell 1%, and Dow futures fell 0.9%.
TSMC's stock price trend
Hong Kong stock , SMIC (00981.HK) fell 4.1%, Huahong Semiconductor (01347.HK) fell 1.4%, and Jingmen Semiconductor (02878.HK) fell 2.4%.
market selling sentiment spread to the money market at the same time. On Tuesday, the Korean won fell by more than 1.6% against the US dollar.
According to Global Times , the United States issued a series of new regulations on October 7, prohibiting the sale of certain chips made using US equipment to China. In addition, the U.S. government has included 31 Chinese companies, research institutions and other groups on the so-called "unverified list", limiting their ability to obtain certain regulated U.S. semiconductor technology. This policy highlights how tensions between Washington and Beijing have changed the $550 billion global semiconductor industry.
Many institutions believe that this will help domestic substitution. China Merchants Securities Electronics Team released a research report on October 9, pointing out that this move in the United States will strengthen the logic of domestic substitution, especially the domestic companies' production expansion plans for 2023 are clear, and it is expected that domestic equipment manufacturers will perform significantly better than overseas manufacturers in 2023. Chief analyst at SemiAnalysis said that some Chinese AI chip design companies and TSMC may face some restrictions.
In response, Chinese Foreign Ministry spokesperson Mao Ning responded on October 8 that the United States abused export control measures to maliciously block and suppress Chinese companies in order to maintain technological hegemony. This practice deviates from the principle of fair competition and violates international economic and trade rules, which not only harms the legitimate rights and interests of Chinese companies, but also affects the rights and interests of American companies.
Mao Ning stressed that this approach hinders international scientific and technological exchanges and economic and trade cooperation, and will have an impact on the stability of the global industrial chain and supply chain and the recovery of the world economy. The US politicization, instrumentalization and weaponization of science and technology and economic and trade issues cannot stop China's development, but will only block itself and backfire itself. (This article was first published on Titanium Media App, author | Lin Zhijia)
