Taipei: Taiwan shares opened sharply higher Thursday, led by gains in chipmaker TSMC, after U.S. President Donald Trump announced tariffs of around 100 percent on all imported chips unless manufacturers build factories in the United States. The Taiex opened 269.99 points higher at 23,717.35 and rose to nearly 23,947 during morning trading. Opening turnover reached NT$12.23 billion (US$409 million). According to Focus Taiwan, Taiwan Semiconductor Manufacturing Co. (TSMC) surged NT$45, or 4 percent, to NT$1,170 following Trump's remarks, which appeared to support firms with existing or planned U.S. operations. TSMC is heavily investing in advanced wafer fabs in Arizona. TSMC's American depositary receipts (ADRs) also showed positive movement, rising US$8.33, or 3.6 percent, to close at US$239.70 overnight. Other major tech stocks also experienced a rally. Hon Hai (Foxconn) rose NT$7.5 to NT$193.5, MediaTek gained NT$35 to NT$1,355, and Quanta Computer added NT$3 to NT$291.5.
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