Taiwan chipmaker UMC warns of subdued auto and industrial demand

Taiwanese chipmaker UMC said it expected a rise in wafer shipments in the second quarter. Investors have been on edge about chip demand after UMC's much larger peer TSMC shocked the market last week. UMC focuses on more mature nodes, unlike Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker.

Taiwanese chipmaker UMC said it expected a rise in wafer shipments in the second quarter. Investors have been on edge about chip demand after UMC's much larger peer TSMC shocked the market last week. UMC focuses on more mature nodes, unlike Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker.