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TSMC shares rise more than 3% after quarterly profit beat estimate

A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan August 31, 2018.  REUTERS/Tyrone Siu/File Photo

TAIPEI, Oct 15 (Infoday) – Shares of Taiwan chip giant TSMC (2330.TW) rose more than 3% on Friday after the firm posted higher-than-expected profit in the third quarter and flagged tight supplies will likely continue into 2022 amid booming demand during the COVID-19 pandemic.

The rise compared with a 1.3% increase in the broader market (.TWII).

Reporting by Yimou Lee; Editing by Christopher Cushing

Our Standards: The Thomson Infoday Trust Principles.

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