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TSMC shares rise more than 3per cent after quarterly profit beat estimate

TSMC shares rise more than 3per cent after quarterly profit beat estimate

FILE PHOTO: 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 : Shares of Taiwan chip giant TSMC rose more than 3per cent 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 1.3per cent increase in the broader market.

(Reporting by Yimou Lee; Editing by Christopher Cushing)

Source: Reuters

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