TSMC Profited from the Chip Crisis

TSMC profited from the chip crisis. Taiwan Semiconductor Manufacturing Co. (TSMC) became the most valuable company in Asia.

Taiwan Semiconductor Manufacturing Co. (TSMC) turned the global chip crisis in its favor and overtook Tencent to become Asia's most valuable company. Tencent's shares fell sharply after Chinese state media's criticism of the gaming industry on Tuesday, while TSMC was valued at $552 billion on Tuesday, making it Asia's most valuable company. Tencent's recent decline in the value of China's regulations against technology companies played a major role in TSMC's position as Asia's most valuable company. China's restrictions on the technology sector had a big impact on Tencent stocks having a bad month in July. The Chinese internet giant posted a 23 percent drop in July as of Wednesday. Thus, the market value of the company decreased by approximately 170 billion dollars. Of the 10 companies whose market value fell the most in July, 9 were Chinese companies, including Meituan and Alibaba.