TSMC shares fall over 2% as China faces possible Pelosi…

TSMC shares fall over 2% as China faces possible Pelosi…


Chipmaker shares Taiwan Semiconductor Mfg. Co.Ltd. TSM Trading in Asia fell as much as 2.98% on Tuesday after China expressed anger at reports from the US House of Representatives Nancy Pelosi a possible trip to Taiwan later in the day.

The company is also a major supplier of iPhone Manufacturer apple inc AAPL.

That Capitalization-weighted stock index of Taiwanaccording to the companies traded on the Taiwan Stock Exchange, fell more than 2%.

See also: Oil continues to slip as demand worries deepen: what key global factory data shows

China’s response: Many Chinese fighter jets are understood to have been flying near the center line dividing the Taiwan Strait. Reuters reported by citing the source.

Chinese warships have remained close to the unofficial dividing line since yesterday. Both planes and warships “crushed” the center line on Tuesday, an unusual move that is also “very provocative,” according to sources cited by Reuters.

That report also stated that Chinese planes repeatedly made tactical movements, briefly “touching” the center line and moving back to the other side of the strait while Taiwanese planes stood by nearby.

price action: U.S. shares of TSM fell over 2.5% on Monday to $86.24, slipping another 0.2% in after-hours trading Data from Benzinga Pro.


Source story

More to explorer