TSMC has surpassed Tencent as Asia’s most valuable company. Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest chipmaker, has surpassed Chinese tech powerhouse Tencent to become Asia’s most valuable company, reports CNBC. Chipmaker TSMC has benefited as the world faces a global semiconductor shortage caused by supply chain interruptions caused by the epidemic, as well as increased demand from industries like vehicles and data centers. Tencent and Alibaba’s market capitalizations have plunged amid Beijing’s escalating regulatory onslaught on the internet sector.

Tencent’s stock has dropped about 30% since the beginning of June, owing to a slew of new rules and regulatory initiatives. As a result, TSMC, whose stock has been almost unchanged since June, has crept up on Tencent’s valuation.

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In August, TSMC, a major Apple supplier, overtook Tencent. According to figures from Refinitiv Eikon as of Wednesday morning during Asia hours, the Taiwanese chipmaker is currently the most valuable company in Asia, with a market valuation of more than $538 billion.

On Tuesday, a drop in Tencent stock officially made TSMC the most valuable Asian corporation by market cap, with a market cap of $579 billion on Wednesday. Tencent had a market capitalization of $557 billion, whereas Alibaba, the second-largest Asian business, had a market capitalization of $481 billion. TSMC’s market dominance, with over half of worldwide chip manufacturing revenue, has prompted some analysts to speculate that the company could become a flashpoint in Taiwan-Mainland China ties.


“Everybody wants to have a peaceful Taiwan Strait. Because it is to every country’s benefit, but also because of the semiconductor supply chain in Taiwan – no one wants to disrupt it,” he said.

As the sector continues to be clouded by uncertainty, Chinese technology stocks have plummeted. Since the beginning of the year, the Hang Seng Tech index, which measures the major technology companies listed in Hong Kong, such as Tencent and Alibaba, has plummeted more than 25%.

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