TSMC, Samsung Lead Asian Chip Stock Rally as Rate Concerns Fade
- TSMC surges as much as 8.5%, the most since July 2020
- Rally may not last amid growth concerns: Capital Securities
The Taiwan Semiconductor Manufacturing Co. (TSMC) headquarters in Hsinchu, Taiwan.
Photographer: Lam Yik Fei/BloombergThis article is for subscribers only.
Asia’s biggest chipmakers Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. climbed as slower US inflation data sparked bets that the Federal Reserve’s rate hikes will moderate.
TSMC surged as much as 8.5%, the most since July 2020, while Samsung rose 4.6%. The Bloomberg Asia Pacific Semiconductors Index jumped 7.6%, the most since March 2020, following a 10% advance in the US industry benchmark Philadelphia Semiconductor Index overnight.