The world’s largest chipmaker company, Taiwan Semiconductor Manufacturing Company (TSMC) has officially Overtake the Chinese tech giant Tencent to become Asia’s most productive firm.
As reported by CNBC, In recent few months Beijing’s regulatory crackdown on the country’s tech sector. This has break the market of Chinese tech giants like Tencent and Alibaba. While the boost in chipmaker stocks are continues due to the global semiconductor shortage.
TSMC is a chipmaker tech giant that has taken the place of Tencent earlier in August. TSMC is a major supplier to the Apple. This Taiwanese chipmaker company is now sitting at the top spot in Asia. In terms of market capitalization at more than $538 billion, this company is on top.
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Tencent sits in second place, with a market capitalization of more than $536 billion while Alibaba is a distant third at about $472 billion.
The market of both companies Tencent and Alibaba fall again on Tuesday — losing more than $20 billion — after China’s market regulator issued some rules to stop unfair competition on the internet.
China’s crackdown hurting tech companies in china
China has taken the latest move on the tech sector whereas China’s State Administration for Market Regulation has tighten laws surrounding the antitrust and competition. This has also iinclude financial technology as well as the collection and use of data.
The Hang Seng Tech index, which tracks the largest technology companies stated that Tencent and Alibaba, has dropped more than 25% since the start of the year.
TSMC get Benefits from semiconductor shortage
The Taiwan Tech giant TSMC got a boost as the world face semiconductor shortage due to the pandemic. According to Reuters, TSMC said to invest $100 billion in this year. In the start of the year TSMC’s stock has risen by more than 6%. TSMC have Clients include Apple, Nvidia and Qualcomm.