Focus Taiwan
Date: 05/26/2020
By: Chang Chien-chung and Frances Huang

Taipei, May 26 (CNA) With foreign institutional investors standing on the sell side amid concerns over the global COVID-19 pandemic, massive selling has pushed down the market capitalization of Taiwan Semiconductor Manufacturing Co. (TSMC) by about NT$920 billion this year, according to market statistics.

In the wake of large scale selling by foreign institutional investors, TSMC shares have fallen 10.73 percent from the end of last year, finishing at NT$295.50 (US$9.88) on Tuesday.

Due to the heavy losses, TSMC's market cap had fallen by NT$920.5 billion this year to NT$7.66 trillion as of Tuesday, the data showed.

As one of the liquid market heavyweights on the local market, TSMC has underperformed the broader market where the weighted index has dropped 999.93 points or 8.33 percent this year, in the wake of foreign institutional selling.    [FULL  STORY]