TSMC's Record Quarter Fails to Satisfy Investors, Sparking Broad Asian Chip Selloff

Taiwan Semiconductor Manufacturing Company posted record second-quarter results and lifted its full-year outlook, yet the numbers fell short of the market's lofty expectations, triggering a widening selloff across Asian chip stocks. Shares of the world's largest contract chipmaker fell as much as 7.3% in Taipei trading, and the Bloomberg Asia Chip Index dropped more than 6%, with Japanese memory maker Kioxia Holdings sliding as much as 16% at one point.