New Delhi [India], January 5 (ANI): Taiwan Semiconductor Manufacturing Co. (TSMC) shares soared to a record high of NT$1,650 (USD 52.45), up by NT$65 (USD 2.07) from its previous close during early trading hours on Monday. This surge pushed the company's total market capitalization past the NT$42.78 trillion (USD 1.36 trillion), according to a report by Focus Taiwan.

'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 report said. The upward movement followed a significant rally in the global semiconductor sector late last week.

The momentum for the chipmaker intensified after the Philadelphia Semiconductor Index rose more than 4 per cent on Friday. During that same session, TSMC's American depositary receipts (ADRs) surged by USD 15.72, or 5.17 per cent, to close at a record high of USD 319.61. This performance in the United States markets provided a strong lead-in for the local trading session in Taiwan.

The company's market value reached USD 1.657 trillion following these gains. This valuation allowed TSMC to surpass the market caps of Meta and Broadcom. The report noted that the firm now ranks sixth globally in terms of total market capitalization. The increase reflects broader investor confidence in the semiconductor industry and the specific positioning of the Taiwanese firm within the global supply chain.

Market sentiment remains positive as investors look toward the company's upcoming financial disclosures. '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,' the report said. Anticipation regarding these future growth projections and earnings potential continues to drive buying interest in the stock. (ANI)