TSM (TSM) Makes 52-Week High on Taiwan Official Comments

November 23, 2012 10:58 AM EST
Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) had a strong showing in holiday trading on Friday, with shares higher by 4.25 percent.

The move appears to be tied to stimulus hopes in Taiwan and calls for stock investments by local banks and funds, which are partially owned by the government. The buy-call was made by Taiwan's finance minister Chang Sheng-ford.

TSM posted 52 week highs today, with a year-to-date gain of 28 percent, making it a top performer in the struggling semiconductor space.

TSM recently announced plans to invest NT$500 billion in south Taiwan over the next years, a move that may created over 7000 jobs in the region.

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