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TSMC shares jump to record high as Taiwan eases single-stock investment caps for funds
Shares in Taiwan Semiconductor Manufacturing Co. surged 5% to a fresh all-time high on Friday after the island's regulator said it plans to loosen limits on funds' allocations to single stocks.
Under the revised framework, domestic equity funds and actively managed ETFs focused exclusively on Taiwanese stocks will be allowed to allocate up to 25% of their assets to any listed firm that carries a weighting above 10% on the Taiwan Stock Exchange.Â
A long-standing rule had capped fund managers' allocations to a single company at 10% of their portfolio's net asset value.TSMC, whose shares had a hit a record high on Thursday as well, last week reported a 58% increase in first-quarter profit, beating estimates as the boom in artificial intelligence drives demands for chips.
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