The market capitalization of contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday plunged below NT$15 trillion (US$530.97 billion), as the stock came under heavy pressure amid rising concerns over Russia’s invasion of Ukraine.

After TSMC’s American depositary receipts fell by 3.43 percent on the US market, its shares faced tremendous selling soon after the local equity market opened, with no sign of an immediate rebound, analysts said.

TSMC lost 3.19 percent to close at NT$576, marking the second session the stock has closed below NT$600. The heavy losses pushed down the stock’s market capitalization by NT$492.7 billion from the previous session to NT$14.93 trillion.

Despite volatile fluctuations in TSMC’s share price, a US brokerage said that it remained upbeat about the chipmaker’s outlook as its advanced N3E process, which is based on 3-nanometer technology, was showing an improving yield rate, and the development was expected to help the company secure more outsourcing orders from Intel Corp to roll out central processing units.

The trial production of its 3-nanometer process is to start later this year on schedule, while mass production would begin in the second half of next year, it said.

The 5-nanometer process is the most advanced technology that TSMC has in mass production.

●Origin：Taipei Times
●Link：https://www.taipeitimes.com/News/biz/archives/2022/03/08/2003774363