Chip Restrictions Strain Taiwan Firms; Singtel’s H1 Profits Hit by Absence of One-Off Gains

Asian markets continued their downward trajectory on Wednesday as investor concerns mounted over potential disruptions linked to former U.S. President Donald Trump’s policies. Adding to the unease, China criticized U.S. restrictions on TSMC chip exports, claiming they harm the interests of Taiwan-based companies.

Singtel, Southeast Asia’s largest telecom operator, reported a 42.4% drop in first-half profits to S$1.23 billion, attributed to the absence of an exceptional gain recorded in the previous year. Despite the decline, the company remains optimistic about its ongoing digital transformation efforts.