After U.S. Federal Reserve Chair Jerome Powell signaled the Fed will slow down the pace of interest-rate hikes, four major U.S. stock indexes ended Wednesday with solid gains. In additional, U.S. President Joe Biden plans to travel to TSMC's Arizona facility for the tool-in ceremony.
TSMC will hold a tool-in ceremony in Arizona, U.S. on the 6th. The White House confirmed that U.S. President Joe Biden will attend, which propelled TSMC's ADR to rise by 4.6 percent. People are concerned whether TSMC's talents and export orders will see an outflow.
Wang Mei-hua, Minister of Economic Affairs: “We have high regards for our TSMC factory in the United States. I think we will form a good supplier relationship with America. In regards to human talent, we believe this is a normal talent exchange. (TSMC Chairman Mark Liu) has mentioned about 500 people will go to the U.S. But TSMC has 50,000 engineers. So there is no brain drain issue.”
Mark Liu, TSMC Chairman, made a rare appeal to the government to look into whether there will be enough electricity in five years. Wang Mei-hua said that the government has made preparations in advance. As for the stock market, U.S. Federal Reserve Chairman Jerome Powell suggested that it will slow down the pace of interest rate hikes, which propelled the four major U.S. stock indexes. The Dow Jones Industrial Index rose by more than 737 points. This caused the TAIEX to return to the 15,000 mark on the 1st. TSMC's stock also recovered to NT$500 at the opening, up NT$16.
Su Jain-rong, Minister of Finance: “If the pace of interest rate hikes can be slowed down, it will slow the movement of funds. Then the international stock market will relatively be more stable. So I guess this is good news.”
If the pace of U.S. interest rate hikes slows down, it will be great news for global stock markets.