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MarketScreener Homepage  >  Equities  >  Taiwan Stock Exchange  >  Taiwan Semiconductor Manufacturing Company Limited    2330   TW0002330008

TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED

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Taiwan voices confidence in trade deal with new U.S. government

11/20/2020 | 11:20pm EST
Taiwan Foreign Minister Wu unveils the new passport design in Taipei

TAIPEI (Reuters) - Taiwan's foreign minister voiced confidence on Saturday that the incoming government of U.S. President-elect Joe Biden would support a long sought-after bilateral trade agreement, following high level economic talks with the outgoing administration.

Last month, Frank Jannuzi, a key Biden aide when the president-elect was in Congress, wrote that Washington should prioritise free trade negotiations with Taiwan to encourage others, including Britain, the European Union and Japan, to follow suit.

In August, Taiwan eased restrictions on imports of U.S. pork and beef, which had been a stumbling block to free trade talks.

Speaking in Taipei after Taiwan-U.S. economic talks, Foreign Minister Joseph Wu noted the cross-aisle support for Taiwan's meat decision, as well as October's call by 50 U.S. senators from both parties for President Donald Trump's administration to begin negotiating a trade deal with the island.

"I think bipartisan support on Capitol Hill is still very strong, and I think that kind of support for a Taiwan-U.S. BTA will continue into the new administration," Wu said.

Friday's talks, under the auspices of a new Economic Prosperity Partnership Dialogue, were not related to a possible trade deal, instead focusing on areas including science and technology, supply chain restructuring and 5G networks.

In a nod to tech-heavyweight Taiwan's importance as a global chip maker for the likes of Apple Inc, Taiwan's government said both sides "confirmed that strategic cooperation on the semiconductor industry is a mutual priority".

The world's biggest contract chipmaker, Taiwan Semiconductor Manufacturing Co, announced plans this year for a $12 billion semiconductor factory in Arizona, a move U.S. Secretary of State Mike Pompeo said would increase U.S. economic independence from China.

The U.S. State Department said in a statement on the talks that the two agreed to negotiate a science and technology agreement, and that future talks would help strengthen their economic relationship and "our shared commitment to free markets, entrepreneurship, and freedom".

The dialogue, held virtually and in person in Washington, is part of increased U.S. engagement with Taipei by the Trump administration which has angered Beijing. China claims the democratic island as its sovereign territory.

(Reporting by Ben Blanchard and Jeanny Kao; Additional reporting by David Brunnstrom in Washington; Editing by Cynthia Osterman and Jacqueline Wong)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.48% 116.59 Delayed Quote.58.05%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.39% 139.625 End-of-day quote.-3.54%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 -0.74% 110.55 End-of-day quote.-10.69%
TAIWAN SEMICONDUCTOR CO., LTD. 0.00% 53.2 End-of-day quote.-0.75%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 0.41% 489 End-of-day quote.47.73%
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Financials
Sales 2020 1 342 B 47 075 M 47 075 M
Net income 2020 512 B 17 965 M 17 965 M
Net cash 2020 419 B 14 701 M 14 701 M
P/E ratio 2020 24,7x
Yield 2020 2,19%
Capitalization 12 680 B 444 B 445 B
EV / Sales 2020 9,14x
EV / Sales 2021 8,18x
Nbr of Employees 48 752
Free-Float 93,6%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 531,08 TWD
Last Close Price 489,00 TWD
Spread / Highest target 43,1%
Spread / Average Target 8,60%
Spread / Lowest Target -22,3%
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Managers
NameTitle
Che Chia Wei Vice Chairman & Chief Executive Officer
Te Yin Liu Chairman
J. K. Wang Senior Vice President-Operations
Jen Chao Huang Chief Financial Officer
Renzhao Huang Chief Financial Officer
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