Taiwan Semiconductor Manufacturing Company (TSMC) is experiencing a notable rise in its stock price today, driven by a combination of factors. The U.S. semiconductor sector is showing strong performance, with major stocks like AMD and Broadcom leading gains, which has positively impacted TSMC as well. TSMC's shares have increased by over 3% as part of this broader sector rally. Additionally, the Taiwanese stock market saw a significant rebound, with the Taiex index rising sharply, led by TSMC, which contributed significantly to the index's gains. This recovery follows a strong performance by American markets at the end of last week, which has bolstered investor sentiment in Taiwan's tech-heavy stocks.
Furthermore, the U.S. government's plans to blacklist Chinese company Sophgo, due to its involvement with a TSMC-made chip found in a Huawei AI processor, have also played a role in boosting TSMC's stock. This move is part of broader U.S. efforts to restrict Chinese companies linked to Huawei, and it underscores TSMC's strategic importance in the global semiconductor supply chain. The increased investor interest in TSMC's role in advanced chip production for high-growth sectors like AI-driven technologies has further fueled the stock's upward momentum.
TSMC's stock is currently trading at $207.84, up 5.39% from its previous close of $197.21, and 3.4% higher than its opening price of $201.00.