Asian chip stocks in South Korea and Taiwan rise despite Nvidia monitoring

Asian tech giants rose across the region on Monday, rebounding from Friday’s losses amid Nvidia’s investigation into CEO Jensen Huang.

Taiwan market leads Asian market rise; Taiwan weighted index It rose by 6.7%.

The index was supported by gains in leading stocks Taiwan semiconductor manufacturing company and Foxconn — officially Hon Hai Precision Industry. TSMC rose more than 6% and Honghai soared more than 8%.

Other semiconductor stocks in the region also rose, with South Korea’s Samsung Electronics and SK Hynix rising 2.7% and 4.77%, respectively. Both companies are known as Nvidia’s suppliers.

Ryu Jae-myung, second vice minister of South Korea’s Ministry of Science, Information and Communications, said that despite the controversy, the South Korean government expects contracted deliveries of NVIDIA graphics processing units to proceed without disruption.

Ryu added that the ministry is closely monitoring developments and discussing pricing and schedules with NVIDIA Korea.

Nvidia shares rose in Friday trading, but Reuters reported on Monday that after-hours trading for NVIDIA Futures and Blue Ocean Systems on the HyperLiquid exchange was around $180.30 per share, down about 3.4% from Friday’s Nasdaq closing price of $186.64.

Over the weekend, Nvidia launched an investigation into CEO and co-founder Jensen Huang’s ties to a businessman who intelligence agencies say is a Chinese spy.

Huang, who told Nvidia staff that he had an affair with a woman, has apologized, but an Nvidia spokesperson said Huang is committed to continuing as Nvidia’s CEO without interruption.

According to reports in the New York Times and the Financial Times, U.S. intelligence agencies have expressed concern that a woman named Alice Huang, who works at a cloud company called MegaSpeed ​​and is an Nvidia customer, is passing information to the Chinese government.