TAIPEI (TVBS News) — Taiwan Semiconductor Manufacturing Company (TSMC) stock price surged to a record high of NT＄796 on Friday(March 8), pushing the market value beyond NT＄20 trillion.
The significant increase of NT＄36 in TSMC shares led to a near 400-point increase in the Taiwan Stock Exchange (TWSE) this morning, reaching a record high of 20,065.5 points.
The surge in TSMC shares was brought about by encouraging factors, including an increase in NVIDIA shares and a significant jump in TSMC's ADR.
A rise of roughly 4.5% was observed in TSMC, the world's largest semiconductor manufacturer due to the optimistic outlook offered by Fed Chair Jerome Powell.
Powell indicated a day earlier that an interest rate cut could be on the horizon, leading the market to anticipate the potential adjustments as early as June.