Profit-taking and market uncertainty have impacted Taiwan Semiconductor Manufacturing Co. (TSMC) shares, contributing to the decline in the Direxion Daily TSM Bull 2X Shares ETF. On December 24, 2024, TSMC's stock faced selling pressure as investors capitalized on recent gains, following a 2.64% rally the previous day. The reelection of Donald Trump as U.S. president has introduced potential tariff concerns, adding to market volatility. TSMC, a major player in the tech sector, saw its stock close unchanged at NT$1,080.00, despite reaching a high of NT$1,095.00 earlier in the session. The stock encountered resistance near its historical high, leading to profit-taking and a shift in investor focus towards other sectors.
The Direxion Daily TSM Bull 2X Shares ETF (TSMX) is down 1.89% in pre-market hours on Tuesday, December 24, falling to $32.17 as of 7:02 AM ET.