Despite this year’s impressive stock surge, foreign ownership in Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) has yet to reach its zenith, potentially leaving room for continued buying by global funds.
Last week, Nvidia Corp.’s (NASDAQ:NVDA) robust earnings performance reignited excitement around artificial intelligence (AI), prompting overseas investors to increase their stake in TSMC’s Taipei-listed shares to nearly 75% as of Friday. While this marks the highest level in over two years, it still falls short of the record set in 2017, when foreign funds held over 80% of the company’s total outstanding shares.
According to Goldman Sachs Group Inc., global funds, on the whole, remain underweight in Taiwan equities as of April, indicating potential further buying activity. TSMC stands out as the most sought-after stock by overseas investors among benchmark Taiex members, based on the volume of shares purchased, as per data compiled by Bloomberg. The leading stock in Asia has surged by 47% this year, contributing to approximately one-fourth of the MSCI Asia Pacific Index gains.
Featured Image: Megapixl
Author Faith Yakubu 
