Taiwan Semiconductor Stock Surges on First Trading Day of 2022

 Taiwan Semiconductor Stock Surges on First Trading Day of 2022

The first trading day of 2022 was a breakout one for . American depositary shares of the key chip maker had its best day since July 2020 on Monday.

TSMC (ticker: TSM) ADRs rose 7.1% to close at $128.80—good for its biggest percentage gain since July 29, 2020, according to Dow Jones Market Data. The stock is now 8% below an all-time closing high of $140.05 set on Feb. 16, 2021. The PHLX Semiconductor Index, or Sox, rose 2.1% while the S&P 500 index was up 0.6%.

The…

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