Taiwan Semiconductor Manufacturing Co confirmed the safety of all its employees, with evacuated personnel now returning to select factory lines after a significant earthquake struck Taiwan early Wednesday.
“The island experienced a formidable earthquake that caused building collapses and triggered tsunami warnings from Japan and the Philippines. Officials reported a minimum of four fatalities.”
A spokesperson from TSMC noted that initial inspections revealed normal conditions at construction sites. However, the company opted to suspend operations for the day pending further assessments.
They added that work will recommence following thorough inspections, with ongoing evaluations of the earthquake’s impact.
Previously, the semiconductor giant had evacuated certain personnel from its facilities in line with safety protocols.
TSMC’s shares declined by 1%, while the broader Taiwan Weighted Index experienced a 0.9% decrease. TSMC stands as the index’s largest entity, boasting a market capitalization of $639.65 billion.
The Taiwan Stock Exchange Corporation issued a statement affirming the normal functionality of its computer systems and networks post-earthquake.
“The earthquake, registering a magnitude of 7.4 in Hualien County, marks the island’s most significant quake since 1999, according to the U.S. Geological Survey. Tremors were felt in Taipei, the capital city.”
“The Japan Meteorological Agency initially issued tsunami warnings for select southern islands and regions but later rescinded them. Meanwhile, the Philippine Institute of Volcanology and Seismology issued a tsunami alert in response to the Taiwan quake.”
In Japan, flight schedules faced disruptions, with Japan Airlines canceling some flights following the earthquake. Despite this, Japan Airlines’ shares saw a 0.7% increase.
Another Japanese carrier, ANA Holdings, temporarily halted flights from Okinawa Naha, Miyako, and Ishigaki Airports earlier in the day. While operations have since resumed, delays and cancellations affected some flights. ANA Holdings’ shares remained unchanged.
