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TSMC capitalization sets record at NT$3.5 trillion

TAIPEI, Taiwan -- The market capitalization of Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) hit a new record of NT$3.5 trillion (US$117.1 billion) after its stock rose on the local bourse Friday.

Share prices of TSMC opened low and dropped to the day's lowest level of NT$132, amid news that China's Semiconductor Manufacturing International Corp. (SMIC) and Taiwan's United Microelectronics Corp. (UMC) are vying for the 28 nanometer process market.

The stock rose later to hit the day's high of NT$136 before ending at NT$135.

The movement came after SMIC and Qualcomm Inc. announced that SMIC and Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, are working together in connection with 28 nm process technology and wafer manufacturing services in China to manufacture Qualcomm Snapdragon processors.

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