Malaysia’s chip players pause investment plans, tech stocks tumble on Trump’s 100% tariff threat against semiconductors
Among the hardest hit are Malaysian Pacific Industries, D&O Green Technologies and KESM Industries; the tech stock index has wilted by 19.7% since January
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[KUALA LUMPUR] Malaysian tech stocks underwent a broad sell-off on Thursday (Aug 7), and the country’s giant semiconductor sector was jittery as it struggled to process US President Donald Trump’s plan to impose a 100 per cent tariff on imported semiconductor chips.
The proposed tariffs, targeting all semiconductors produced outside the US or by such companies with no plans to set up plants on American soil, triggered declines in 71 technology counters on Bursa Malaysia.
Wong Siew Hai, president of the Malaysia Semiconductor Industry Association, said that the abrupt announcement has created confusion, and that industry players are taking a wait-and-see approach, including calling a pause on their investment plans.
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