‘STRONG BUYING’: Taiwan Semiconductor Manufacturing Co said the growth is driven by demand for chips with the raw processing power needed to mine virtual currencies
Taipei Times
Date: Jan 20, 2018
By: Staff writer, with CNA
The market capitalization of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday hit a new all-time high as its stock price increased sharply on a positive sales outlook for this year, dealers said.
The company’s market cap reached NT$6.63 trillion (US$225.3 billion) at the close of trading after investors in Taipei flocked to the stock on the company’s higher-than-expected sales forecast and the 3.34 percent gain posted by its US depositary receipts overnight.
TSMC shares rose 2.82 percent to close at the day’s high of NT$255.5, following a 2.69 percent rise on Thursday. The TAIEX closed up 0.72 percent at 11,150.85 points.
The stock has risen 11.33 percent since the beginning of the year, increasing TSMC’s market value by about NT$675 billion. [FULL STORY]