Asian chip stocks rebound in South Korea and Taiwan as Nvidia scrutiny fails to derail suppliers
Asian technology shares are rising on Monday after a sharp selloff at the end of last week, with semiconductor names in Taiwan and South Korea leading the recovery. The advance comes as investors weigh scrutiny surrounding Nvidia CEO Jensen Huang while supply expectations for the company’s graphics processors remain unchanged in South Korea.
Highlights
- Taiwan Weighted Index surges up to 6.7% as TSMC gains over 6% and Foxconn jumps more than 8%, leading Asia's chip stock rebound.
- Samsung Electronics climbs 2.7% and SK Hynix advances 4.77% as South Korean chipmakers extend rally despite Nvidia-related scrutiny.
- South Korea's government expects Nvidia GPU deliveries to proceed without disruption, while Nvidia confirms CEO Jensen Huang will remain amid probe.
Taiwan and South Korea lead chip rally
As reported by CNBC, Taiwan’s market is setting the pace for gains across Asia, with the Taiwan Weighted Index climbing as much as 6.7% as heavyweight chip and electronics names recover from Friday’s losses.Taiwan Semiconductor Manufacturing Company is up more than 6%, while Foxconn, formally known as Hon Hai Precision Industry, jumps more than 8%. In South Korea, Samsung Electronics rises 2.7% and SK Hynix gains 4.77%, extending the rebound among regional suppliers tied to Nvidia.
Supply outlook stays intact despite Nvidia probe
South Korean Second Vice Minister for Science and ICT Ryu Je Myung reportedly says Seoul expects contracted deliveries of Nvidia graphics processing units to proceed without disruption despite the controversy surrounding the U.S. chip company.Over the weekend, Nvidia opens an investigation into CEO and co-founder Jensen Huang’s relationship with a businesswoman whom intelligence agencies say is a Chinese spy. Huang tells staff he had an affair with the woman and apologizes, while an Nvidia spokesperson says he remains committed to continuing as CEO without interruption.
U.S. intelligence agencies have expressed concerns that the woman, Alice Huang, who is affiliated with cloud company and Nvidia customer Megaspeed, has been passing information to Beijing, according to reports in The New York Times and the Financial Times.
In our earlier article on the Nasdaq 100’s rebound amid heightened volatility, we noted that the index’s swings were fueled by worries over AI supply chains and higher financing costs weighing on technology stocks. The analysis highlighted that semiconductor and AI-related weakness had pressured key support levels, leaving the recovery fragile while the index traded below its short- and medium-term moving averages. We also pointed to mixed momentum and oversold signals, with resistance near 29,868 seen as a key level for any more durable upside.
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