Taipei: Taiwan Semiconductor Manufacturing Co. (TSMC) shares climbed to a record high of NT$1,650 in early trading on Monday, up NT$65 from the previous close. The rise pushed the company's market capitalization past the NT$42 trillion mark to NT$42.78 trillion.

According to Focus Taiwan, the Philadelphia Semiconductor Index rose more than 4 percent on Friday, while TSMC's American depositary receipts (ADRs) surged by US$15.72, or 5.17 percent, to close at a record high of US$319.61. This surge in share prices contributed to TSMC's market value rising to US$1.657 trillion.

With this increase, TSMC has surpassed Meta and Broadcom to rank sixth globally in terms of market capitalization, as per data from CompaniesMarketCap. The market is widely optimistic about TSMC's future, anticipating that the Taiwanese company, which is the world's largest contract chipmaker, will release positive guidance at its next investor conference scheduled for January 15.