TSMC(US:TSM) 智通财经网·2025-06-25 12:05Core Viewpoint - TSMC plans to issue $10 billion in new shares to strengthen its foreign exchange hedging operations in response to currency fluctuations, marking its largest initiative of this kind to date [1] Group 1: Company Actions - TSMC Global Ltd. will issue shares to mitigate foreign exchange volatility, representing the third such transaction since 2024 and the largest to date [1] - The issuance aims to provide TSMC Global with greater financial flexibility in managing exchange rate risks [1] Group 2: Market Context - The recent appreciation of the New Taiwan Dollar has raised concerns in Taiwan about the economy's over-reliance on exports [1] - In May, the New Taiwan Dollar experienced its largest single-day increase since the 1980s, prompting official calls to curb speculative activities [1] Group 3: Industry Impact - TSMC, as a major chip manufacturer for companies like Apple and Nvidia, faces challenges from the currency appreciation, which can reduce profits from overseas sales when converted back to local currency [4] - TSMC's CEO indicated that the company's operating profit margin has declined by several percentage points due to the local currency's appreciation [4]