Taiwan Semiconductor Manufacturing Co.’s stock has lost more value than any other in Asia since mid-June as investors brace for prolonged weakness in the chip sector. The rout may not be over. Most Read from Bloomberg Since its June high, Taiwan-based TSMC shares have fallen 11%, erasing $77 billion from its market cap due to worries about the macro environment and soft global consumer electronics demand. A continued rise in the volatility skew in recent months as traders bid up bearish contracts is indicating a further drop in TSMC’s stock. Shares of the world’s largest contract chipmaker jumped 60% between…