The share price of Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) continued to rise Monday, pushing the contract chip maker's market capitalization closer to that of U.S.-based integrated circuit giant Intel Corp., dealers said. Based on the NT$200 share price, TSMC's market cap was estimated at a record NT$5.18 trillion, the highest among all the listed firms on the main board and the over-the-counter market. That puts the Taiwan company close to Intel, which had a market cap of about NT$5.22 trillion as of Friday. "The current gains posted by TSMC's shares probably resulted mainly from buying by foreign institutional investors as they tend to favor the stock because of its sound fundamentals," Chu said. Foreign institutional investors have bought a net 100 million TSMC shares in the past 10 trading sessions, he said.

Source: The China Post May 08, 2017 04:52 UTC