By: Central News Agency
Taipei, March 17 (CNA) Taiwan Semiconductor Manufacturing Co. (TSMC) has become a safe haven for foreign institutional investors, and with continued foreign buying, market capitalization of the stock repeatedly hit new highs, analysts said Thursday.
On his Facebook page, Hsieh Chin-ho, chairman of Taiwan-based Investment Media Ltd. said that TSMC, the most heavily weighted stock in the local market, had risen more than 20 percent from a recent low of NT$131.50 recorded in mid-January.
Hsieh said that the strength of TSMC largely came from foreign institutional investors who have had recorded a net buy of 308.19 million TSMC shares so far this year to push the stock up to an intraday high of NT$160 (US$4.92) on Thursday.
Based on Thursday’s intraday high, TSMC’s market cap hit a record high of NT$4.14 trillion. Even though the stock closed off its high at NT$158.50, its market cap reached a new high of around NT$4.11 trillion. [FULL STORY]