markets

Claire Yubin Oh4/24/26

TSMC surges as Taiwan eases single-stock investment limits for funds

TSMC’s ADRs jumped 3% in premarket trading on Friday after the island’s financial regulator announced plans to ease limits on funds’ allocations to single funds.

Previously, active fund managers were limited to allocating up to a maximum of 10% of their net assets into any one company. Under the revised framework, local equity funds and active exchange-traded funds that solely invest in Taiwanese stocks can allocate up to 25% of their assets in any listed company if it has a weighting above 10% in the Taiwan Stock Exchange.

The new rule, announced Thursday, will come into effect after the regulator issues an order on Friday. Relaxing the long-standing rule will mean fewer restrictions on local money managers taking full advantage of TSMC’s skyrocketing share price. TSMC, now Asia’s largest company by market cap, has seen its share price surge 150% in the past year — adding more to its gains in the last few days after crushing estimates in its first-quarter results.

TSMC is currently the only company that meets that 10% criterion, holding some 44% weight in Taiwan’s benchmark index, though the latest change also moved other large-cap Taiwanese stocks higher on Friday.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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