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Investors cut back positions in Asian semiconductor stocks after a blistering rally, with TSMC, SK Hynix, and Samsung Electronics at the center of the repositioning.
The three companies together account for 29% of the MSCI Emerging Markets index, a combined weight heavy enough that selling in the trio registers across the benchmark.
Three chipmakers, nearly a third of a gauge The 29% combined share that TSMC, SK Hynix, and Samsung Electronics hold in the MSCI Emerging Markets index is what elevates the trade beyond a chipmaker story.
Nearly a third of one of the most closely tracked emerging-market gauges rides on three semiconductor names. Funds that mirror the index carry that exposure by design.
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