Taiwan Semiconductor Manufacturing Co has confirmed the safety of all its employees, and those who were evacuated have begun to return to certain factory lines following a major earthquake that struck Taiwan early on Wednesday.
The island was hit by a significant earthquake that resulted in building collapses and triggered tsunami advisories from Japan and the Philippines. Official reports indicate that at least four people have lost their lives.
According to a TSMC spokesperson, initial inspections revealed that the construction sites were in normal condition, but the company chose to suspend work at these sites for the day. The spokesperson mentioned that work will resume after further inspections, and TSMC is currently assessing the full impact of the earthquake.
Earlier, the chipmaker evacuated some personnel from certain fabs in line with the company's safety protocols.
TSMC's shares experienced a 1% decline, while the broader Taiwan Weighted Index dropped by 0.9%. TSMC holds the top position in the index, with a market capitalization of $639.65 billion.
The Taiwan Stock Exchange Corporation stated that it conducted checks on its computers and network systems after the earthquake and confirmed that all systems are operating normally.
The earthquake, with a magnitude of 7.4 in Hualien County, marked the island's most powerful quake since 1999, according to the U.S. Geological Survey. Tremors were felt in the capital city of Taipei.
The Japan Meteorological Agency issued tsunami advisories for certain southern islands and regions but later lifted those warnings. The Philippine Institute of Volcanology and Seismology also issued a tsunami warning in the Philippines following the earthquake in Taiwan.
Flight schedules were disrupted in Japan, with some Japan Airlines flights being canceled after the Taiwan earthquake. Shares of Japan Airlines saw a 0.7% increase.
Another Japanese carrier, ANA Holdings, temporarily suspended flights from Okinawa Naha, Miyako, and Ishigaki Airports earlier in the day. The company has since resumed operations but indicated that some flights have been delayed or canceled. Shares of the company remained unchanged.
