TSMC (TSM) Shares Surge 5% as Taiwan Eases Investment Limits

AI Summary

Shares of Taiwan Semiconductor Manufacturing Co. (TSM) increased 5% to an all-time high after Taiwan's regulator announced plans to relax investment limits for equity funds. Under the new framework, these funds can allocate up to 25% of their assets to any listed company that exceeds a 10% weighting on the Taiwan Stock Exchange, up from the previous 10% cap. TSMC reported a net income of 572.48 billion new Taiwanese dollars for Q1, marking a 58% increase from the previous year. This trend is driven by increased demand for chips amid a boom in artificial intelligence, making TSMC a key player for clients such as Apple (AAPL) and Nvidia.