TSMC shares soar to record NT$1,650 Monday morning

Taipei, Jan. 5 CNA) Taiwan Semiconductor Manufacturing Co. (TSMC) shares climbed to a record high of NT$1,650 in early trading on Monday, up NT$65 from the previous close.

The rise pushed the company's market capitalization past the NT$42 trillion mark to NT$42.78 trillion.

The Philadelphia Semiconductor Index rose more than 4 percent on Friday, while TSMC's American depositary receipts (ADRs) surged by US$15.72, or 5.17 percent, to close at a record high of US$319.61.

TSMC's market value rose to US$1.657 trillion, surpassing Meta and Broadcom, to rank sixth globally in terms of market capitalization, according to data from CompaniesMarketCap.

The market is widely optimistic that the Taiwanese company, the world's largest contract chipmaker, will release positive guidance at its next investor conference on Jan. 15.