But with a global rush into tech shares pushing the Nasdaq Composite Index to a record this month, overseas investors sent more than $850 million into Taiwan’s tech-heavy stock market.
The latest boost to TSMC’s shares, which were already up 17% for the year before Monday, came after Intel Corp. warned last week that its 7-nanometer chips are behind schedule and it may outsource their production.
The chip producer for the likes of Apple Inc. wields so much influence over Taiwan’s 921-member stock benchmark that without it, the Taiex would be down about 2% this year versus its 5% gain.
Photographer: Maurice Tsai/Bloomberg Photographer: Maurice Tsai/Bloomberg Taiwan’s equity benchmark broke a record that stood for three decades, helped by the biggest surge in years for the economy’s biggest stock.
Listed companies saw sales rise 6% in June from a year earlier, the strongest growth since October 2018, the Taiwan Stock Exchange said July 13.