Taiwan calls for calm on TSMC

Taking a hit: TSMC headquarters in Hsinchu, Taiwan. The company’s shares earlier this week fell by the most in 28 years after the United States announced tighter controls over chip exports to China. — AP

TAIPEI: Taiwan’s economic affairs minister downplayed the impact of new chip curbs on the island’s economy while urging investors to stay calm and believe in Taiwan Semiconductor Manufacturing Co’s (TSMC) resilience.

“The reason Taiwanese investors are very panicking is because they do not have a good understanding of the very complicated rules,” Wang Mei-hua said in an interview with Bloomberg News.