Singapore chip stocks slide as Wall Street tech sell-off spreads to Asia
Shares of Singapore semiconductor firms fell between 4% and 14% on Oct. 30 after a broader tech rout on Wall Street triggered by weaker earnings and guidance from major chip makers.
Singapore’s technology and semiconductor companies saw their shares decline on Oct. 30 following a sell-off in U.S. tech stocks. AEM, a local supplier of advanced semiconductor test solutions, dropped as much as 11% in early trading before easing to a 7% loss by midday. Newly listed Mi Material, which produces chip-packaging materials, fell more than 14%, and equipment maker UMS Integration was down nearly 6%. PC Partner, a global computer-hardware manufacturer listed in Singapore, also slipped over 4%.
The downturn mirrored a sharp correction on Wall Street after Intel missed sales forecasts and warned of cash burn in 2026 due to slowing PC demand, manufacturing bottlenecks and high capital spending. Intel’s shares plunged 23% in after-hours trading on Oct. 29. Google’s parent company Alphabet closed more than 12% lower on the same day, erasing roughly US$500 billion in market value after its third-quarter earnings fell short of expectations.
The ripple effect reached regional markets, with South Korea’s Kospi index dropping about 5% in morning trade. Saxo Markets chief investment strategist Charu Chanana noted that while demand for artificial-intelligence-driven computing remains strong, investors are increasingly focused on the cost of meeting that demand and the ability of companies to convert growth into cash flow. She said higher spending, uncertain margins and elevated valuations are making markets more selective, and highlighted the growing importance of firms that can fund investments through recurring cash flow rather than external capital.