Taiwan shares jump as Trump tariff threat boosts TSMC

Taipei, Aug. 7 (CNA) Taiwan shares opened sharply higher Thursday, led by gains in chipmaker TSMC, after U.S. President Donald Trump said tariffs of around 100 percent would be imposed on all imported chips unless manufacturers build factories in the United States.

The Taiex opened 269.99 points higher at 23,717.35 and rose to nearly 23,947 during morning trading. Opening turnover reached NT$12.23 billion (US$409 million).

Taiwan Semiconductor Manufacturing Co. (TSMC) surged NT$45, or 4 percent, to NT$1,170 after Trump's remarks, which appeared to favor firms with existing or planned U.S. operations. The company is investing heavily in advanced wafer fabs in Arizona.

TSMC's American depositary receipts (ADRs) also reflected the optimism, rising US$8.33, or 3.6 percent, to close at US$239.70 overnight.

Other major tech stocks also rallied. Hon Hai (Foxconn) rose NT$7.5 to NT$193.5, MediaTek gained NT$35 to NT$1,355, and Quanta Computer added NT$3 to NT$291.5.