TSMC Spurs 2.5% Taiex Rally with 4% Share Surge
TSMC shares surged over 4%, driving Taiwan’s Taiex index up 2.5%. Tokyo’s Nikkei rose 0.6% to 59,504.22 and Hang Seng fell 0.8% to 25,714.99 as stalled U.S.-Iran ceasefire talks pushed June Brent crude to $105.07 a barrel.
1. TSMC Stock Performance
TSMC shares jumped over 4% on heavy buying of technology stocks, making it one of the top performers in the region. This surge contributed significantly to Taiwan’s Taiex index rise, highlighting investor appetite for leading chipmakers.
2. Broader Asian Market Movements
Asian markets showed mixed results, with Tokyo’s Nikkei climbing 0.6% to 59,504.22, Shanghai Composite slipping 0.5% to 4,071.52 and Hong Kong’s Hang Seng down 0.8% at 25,714.99. South Korea’s Kospi fell 0.4%, while Australia’s S&P/ASX 200 dropped 0.6%.
3. Oil Price Rally and Geopolitical Context
Brent crude for June delivery jumped 3.1% to $105.07 per barrel after Teheran-related ceasefire talks between the U.S. and Iran stalled. Elevated oil prices underscore persistent geopolitical risks in the Strait of Hormuz, with potential inflationary effects globally.