TSMC Jumps After Posting First Monthly Sales Gain Since February

(Bloomberg) — Taiwan Semiconductor Manufacturing Co. Ltd. climbed its most in almost half a year after posting its first monthly sales gain since February, underlining expectations the global chip market is recovering gradually from Covid-era troughs.

TSMC’s shares jumped as much as 4.1% in unusually heavy trading, notching their biggest intraday rise since May. The world’s largest supplier of made-to-order chips on Friday recorded a 15.7% gain in revenue to NT$243.2 billion ($7.5 billion) in October — the first time monthly sales have grown from a year earlier since February. Revenue for the first 10 months was down 3.7% to NT$1.78 trillion.