-- Taiwan Semiconductor Manufacturing Co. shares fell the most in three months as trading resumed in Taiwan after a two-day typhoon break, joining a global tech rout as investors dramatically soured on the promises of artificial intelligence.Share declined as much as 6.5% in Taipei early Friday, dragging down the benchmark Taiex index, which fell more than 4% to enter a technical correction. American Depositary Receipts for the world’s largest contract chipmaker lost 5.
TSMC’s recent drop could be due to profit taking while “whispers of a potential slowdown in the AI investment boom might also be at play,” said Manish Bhargava, chief executive officer at Straits Investment Management Pte Ltd. “The wider context of AI momentum can’t be dismissed. The burning question is — is the AI rally running out of steam?”Taiwan’s $2.5 trillion stock market was shut Wednesday and Thursday as the deadly Typhoon Gaemi approached after inundating the Philippines.
PARIS — Bev Priestman's time at the Paris Olympics ended before the opening ceremony. Canada Soccer has suspended its women's national team head coach for the remainder of the Games amid a drone spying scandal. The Canadian Olympic Committee added in a statement released shortly before 1:30 a.m. local time Friday that assistant Andy Spence will lead the defending gold medallists for the remainder of the tournament.
The U.S. military is building infrastructure in northern Australia to help it project power into the South China Sea if a crisis with China erupts, a Reuters review of documents and interviews with U.S. and Australian defence officials show. Closer to the Philippines than Australia's east coast capital, Canberra, Darwin has long been a garrison town for the Australian Defence Force and a U.S. Marine Rotational Force that spends six months of each year there.