By Yi Wei Wong
Shares of Taiwan Semiconductor Manufacturing Co. rose early Tuesday after Warren Buffett's Berkshire Hathaway Inc. disclosed its acquired a stake in the Taiwanese chip maker.
Shares rose as much as 6.4% and was recently 6.0% higher at 471.50 Taiwan dollars (US$15.26).
Berkshire Hathaway had purchased just over 60 million of TSMC's American depositary shares for over $4.1 billion in the quarter ended September, the U.S. company said in a filing late Monday.
TSMC's earnings have remained resilient despite headwinds affecting the broader chip industry.
The world's largest made-to-order chip manufacturer's third-quarter net profit rose 80%, to a record high at NT$280.9 billion. The company has been granted a one-year exemption from U.S. restrictions on the chip sector.
Write to Yi Wei Wong at yiwei.wong@wsj.com
(END) Dow Jones Newswires
11-14-22 2146ET