TSMC, Samsung Lead Asian Chip Stock Rally as Rate Concerns Fade

(Bloomberg) — Asia’s biggest chipmakers Taiwan Semiconductor Manufacturing Co. Ltd. and Samsung Electronics Co. Ltd. climbed as slower U.S. inflation data sparked bets that the Federal Reserve’s rate hikes will moderate.

TSMC surged as much as 8.5%, the most since July 2020, while Samsung rose 4.6%. The Bloomberg Asia Pacific Semiconductors Index jumped 7.6%, the most since March 2020, following a 10% advance in the U.S. industry benchmark Philadelphia Semiconductor Index overnight.