TSMC Jumps 5% After Samsung Results Spur Sector Rally

(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. jumped as much as 5.4% in Taipei on Thursday after chipmaking rival Samsung Electronics Co. reported sales that were better than anticipated.

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Samsung’s memory and chip production business appeared to offset waning consumer demand in the three months ended June, suggesting the slowdown for tech manufacturers may be less severe than initially feared.

Read more: Samsung’s 21% Sales Jump Banishes Worst Fears of Inflation Hit

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