- Asian stocks gained alongside Nasdaq 100 futures, as Taiwan Semiconductor Manufacturing's outlook boosted optimism for a global resurgence in the industry.
- Gains in semiconductor companies pushed MSCI's Asia Pacific index up for a second day, while contracts for the tech-heavy Nasdaq 100 also advanced. TSMC rose more than 5% in Taiwan after its American depository receipts increased by over 10% to reach their biggest level since February 2022.
- TSMC, Apple and Nvidia's main chip supplier, expects to return to good growth this quarter as it goes forward with plans for plants in Japan, Arizona, and Germany, powered by the increase in artificial intelligence development. On Thursday, its earnings sparked the largest surge in chipmakers in more than a month, propelling the Nasdaq 100 index to an all-time high closing.
- "The better-than-expected results from TSMC could be positive signals on demand recovery," said An Hyungjin, CEO and investment manager at Billionfold Asset Management Inc. "With strong AI demand, not only the US big tech firms but also most tech firms around the world have to invest in AI and that could be good news to stock markets."