Taiwan tech stocks hit as Biden drops out of U.S. race

Analysts say high valuations and political uncertainty are increasing volatility

20240722 taiwan stocks

Taiwanese chip and tech are being buffeted by political uncertainty in the U.S. as the presidential election approaches. © Reuters

CHENG TING-FANG and LAULY LI, Nikkei Asia tech correspondents

TAIPEI -- Top Taiwanese tech stocks dipped on Monday after U.S. President Joe Biden announced he was withdrawing from the presidential race, the latest political development to shake Asia's chip technology economy.

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