Asian stocks slide as AI slowdown fears pressure Taiwan and China

  • Taiwan and Chinese equities fell as concerns over slower advanced-AI development pressured technology shares.
  • The Taiex dropped nearly 690 points to 45,499.06, while the Shanghai Composite fell 0.4% to 3,872 and the Shenzhen Component declined 0.8% to 13,370.
  • Foreign investors added Taiwan futures shorts, while Xi Jinping proposed a BRICS open-source AI community amid intensifying AI governance competition.

Asian equities weakened on the 14th and Monday as concerns about a slower pace of advanced-AI development pressured technology shares. Taiwan’s Taiex fell as much as nearly 690 points to 45,499.06, breaking below 46,000 and its monthly moving-average support, while the Shanghai Composite declined 0.4% to 3,872 and the Shenzhen Component dropped 0.8% to 13,370. The move followed a joint appeal by Anthropic CEO Dario Amodei, OpenAI CEO Sam Altman and xAI CEO Elon Musk to slow development of the most advanced AI models, alongside stronger-than-expected U.S. August core CPI. Taiwanese electronics stocks including TSMC, MediaTek, Delta Electronics, Hon Hai and ASE Technology Holding weakened, while Chinese AI-related companies including Cambricon Technologies, SMIC, Zhongji Innolight and Victory Giant Technology also declined. Foreign investors sold Taiwan stocks and increased futures shorts, reinforcing a bearish short-term setup. China’s President Xi Jinping separately proposed a BRICS open-source AI community to strengthen cooperation on developing and deploying large language models, highlighting Beijing’s effort to expand its influence as global AI governance competition intensifies. Investors are also awaiting Chinese economic data and interest-rate decisions from the Federal Reserve, Bank of Japan and Taiwan’s central bank.

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Asian stocks slide as AI slowdown fears pressure Taiwan and China - CoinPost Terminal