Why Taiwan Semiconductor Manufacturing Company Shares Are Falling

Taiwan Semiconductor Mfg. Co. Ltd. TSM shares are trading lower by 3.81% to $61.32 Monday afternoon amid Chinese President Xi winning his 3rd term and selecting loyalists to the Politburo Standing Committee, which could cause pressure on Taiwanese companies.

What Happened?

Xi Jinping secured his third term in power on Sunday by winning re-election as general secretary of the Chinese Communist Party. 

The Central Committee of the Chinese Communist Party (CCP) elected Xi as its general secretary for a precedent-breaking five-year term, according to a Reuters report. Jinping was first elected in 2012 and will complete his 10-year tenure this year. 

The CCP also named a seven-member Politburo Standing Committee (PSC) led by Jinping, its inner circle of power dominated by the party leader's allies...Read More

According to data from Benzinga Pro, Taiwan Semiconductor Manufacturing Company has a 52-week high of $145.00 and a 52-week low of $59.68.