TSMC's market cap rises to 9th highest in world

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focustaiwan.tw, Dec. 08, 2020 – 

Taipei, Dec. 8 (CNA) The market capitalization of contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) rose to ninth in the world after its American depositary receipts (ADRs) scored solid gains overnight.

TSMC's market cap hit US$551.75 billion after its ADRs rose US$2.66 or 2.56 percent to close at a new high of US$106.39 in the United States, passing investment conglomerate Berkshire Hathaway Inc., which is managed by investment guru Warren Buffett, to take the ninth spot.

After the U.S. markets closed, the market cap of Berkshire Hathaway stood at US$537.30 billion.

In addition, strong buying amid optimism toward its business prospects has brought TSMC's market cap closer to electric car brand Tesla Inc., which had a market cap of US$608.33 billion, the world's eighth highest.

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