News Formal

Emerging-market stocks have longest selloff in year on tech rout

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 28 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 63%
  • Publisher: 50%

Bonds News

Business,Company News,White House

Emerging-market stocks headed for the longest streak of losses in almost a year as rising fears of a trade war between the U.S. and China hit Asian tech companies.

The Port of Keelung in Keelung, Taiwan, on Thursday, Aug. 4, 2022. --

Taiwan Semiconductor Manufacturing Co. fell as much as four per cent after former U.S. President Donald Trump questioned whether the U.S. has a duty to defend Taiwan, speaking in a Bloomberg Businessweek interview. The U.S. is also mulling stricter chip curbs on China, Bloomberg News reported, triggering a tech stock selloff as investors pondered the fallout for the world’s largest semiconductor arena.

Asian tech stocks pared losses after TSMC lifted projections for 2024 revenue growth and said quarterly results beat estimates.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Saudi Arabia Dethrones China as Top Emerging-Market BorrowerSaudi Arabia has displaced China as the most prolific issuer of international debt among emerging markets, breaking Beijing’s 12-year run at the top.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Morning Bid: Asian stocks at 2-year high; China, Indonesia set ratesInvestors in Asia go into Thursday in a bullish mood with Asian stocks at two-year highs, boosted by strength in tech and calm across global markets that is ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »