Taiwan Semiconductor Dips After Xi Jinping Calls For Mobilization Of 'Patriots' In Taiwan, But Sentiment Remains Strong
Mar 11, 2024
Rhetoric from the CCP has reached a new pitch as President Xi Jinping calls on "all patriots from home and abroad, in and out of Taiwan" to increase opposition to independence for the disputed nation. This comes only a few days after "peaceful" was dropped from the phrase "peaceful reunification" in an official Chinese budget report that outlines a more than 7% boost to military spending. "Peaceful" has always been used when speaking about reunification and many found its absence conspicuous. Led by Asia's 2nd largest company, Taiwan Semiconductor (NYSE:TSM), Taiwan is the world leader in the manufacturing of the chips critical to, amongst many other applications, AI. The increasing geopolitical tension has made some investors wary, TSM dipped close to 1.5% after Xi's remarks. Most investors, however, remain bullish. TSMC has been on ...Full story available on Benzinga.com
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