TSMC drives Taiwanese equities to outperform tech rival South Korea
Taiwan’s stock market has trounced that of tech rival South Korea as the two markets compete for artificial intelligence (AI) investment from some of the world’s biggest money managers.
Taiwanese equities have soared 14 per cent this year, with almost two thirds of the advance coming from a rally in Taiwan Semiconductor Manufacturing Co (TSMC). The market-value gap over South Korea has widened to as much as US$363 billion, the most since at least 2003, according to data compiled by Bloomberg.
Taiwan has emerged as the biggest AI beneficiary in Asia with TSMC’s manufacturing of advanced semiconductors dominating the sector. Analysts tout the island’s complete AI supply chain ecosystem from chip designers to foundries to downstream server makers. While South Korea is home to major memory chipmakers such as Samsung Electronics and SK Hynix, it has lower exposure to AI overall compared to Taiwan, they say. BLOOMBERG
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Wall Street Journal moves Asia headquarters from Hong Kong to Singapore
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes