Donald Trump’s recent comments after his nomination have caused damage reaching as far as Taiwan’s stock market.
Video script: TSMC CEO C.C. Wei (魏哲家) spoke at a TSMC Earnings Conference this week stating that plans to expand overseas have not changed despite Donald Trump’s recent claims about how Taiwan has taken away “about 100%” of U.S. chip business.
TSMC shares dropped below the NT$1,000 (about US$30) mark following the comments, dipping as low as NT$970 (about US$29), where they currently sit.
Semiconductor Analyst “Min” says Trump’s comments were likely made off the cuff. Referencing similar past events, Min does not believe Trump’s comments will have a long-term effect. He further states Taiwan is more likely to become a key player in the struggle between the U.S. and China rather than becoming a U.S. enemy.
Trump brought up Taiwan in a speech yet again on Thursday U.S. time, worrying investors about what other hits Taiwan’s stock market may take.
While share prices continue to drop, Wei spoke optimistically about the company’s revenue and outlook. Trends still show a steady overall increase in TSMC share prices over the past year.