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Asian hardware tech stocks, led by chipmakers, are returning to the limelight as China’s regulatory assault casts a shadow over some of the region’s biggest and most popular software names.
The MSCI Asia-Pacific Information Technology Index, which includes companies like Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co., jumped 3.2% this week, the highest since January. In contrast, the MSCI Asia Pacific Communication Services Index, dominated by consumer Internet giants such as Tencent Holdings Ltd., fell for a third week. The gauge plummeted by almost 12% in July, its worst monthly performance since 2008.
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