Shin-Etsu Shares Plunge After US Economy Fears Weigh on Earnings

Shin-Etsu Chemical Co.’s shares dropped as much as 10% after it missed earnings estimates amid concerns about its polyvinyl chloride business in the US.

Shares of the world’s largest maker of silicon wafers for advanced chips fell by the most since July after it failed to give an outlook on a demand recovery for its PVC operations — low-cost plastics commonly used in construction and infrastructure. The business is heavily reliant on the broader economic climate in the US and investment appetite.