U.S. Stock Market Update | Taiwan Semiconductor Rises Over 1.5%, Continues to Hit Historic Highs, Total Market Value Reaches 1 Trillion U.S. Dollars Again

On Monday, Taiwan Semiconductor rose more than 1.5% after the opening, hitting a new historical high with a total market value once again reaching $1 trillion. As of the time of publication, it fell to 0.73%, trading at $192.21. On the news front, due to surging demand, the market expects TSMC's profit to increase by 40% in the third quarter. According to LSEG SmartEstimate's forecast, TSMC is expected to achieve a net profit of NT$298.2 billion ($9.27 billion) in the quarter ending September 30. In comparison, the net profit for the third quarter of 2023 was NT$211 billion. TSMC will hold a quarterly earnings conference call on Thursday to update its performance outlook for the quarter and the full year, including its capital expenditures for expanding production