Bitcoin falls 2.1% to $63,508 as a selloff in chip stocks and concerns about the U.S.-Iran conflict dampen risk appetite. Investors await the Federal Reserve’s policy decision Wednesday, with money markets pricing a 64% chance rates hold steady and a 36% chance of a 25 basis-point hike.

Bernstein says UMC’s share-price rally seems unjustified; the stock has more than doubled this year despite only a high-single-digit price hike in the second half. Silicon photonics efforts will likely take years to materialize, and 8-inch mature-node prices face long-term pressure from China. UMC shares fall 9.9% to NT$113.50.

Nomura expects NetEase’s second-quarter adjusted profit to come in below market expectations, mainly due to investment losses from holdings in Alibaba Group and PDD Holdings. The quarter was quiet for online games, though evergreen titles provide support. Nomura maintains a buy rating and $155 target price on ADRs, last at $123.77.