Taiwan Semiconductor Manufacturing : TSMC shares rise more than 3% after quarterly profit beat estimate

TAIPEI (Reuters) - Shares of Taiwan chip giant TSMC rose more than 3% on Friday after the firm posted higher-than-expected profit in the third quarter and flagged tight supplies will likely continue into 2022 amid booming demand during the COVID-19 pandemic.

The rise compared with a 1.3% increase in the broader market.

(Reporting by Yimou Lee; Editing by Christopher Cushing)