<div class=newsTextDataWrapInner><p>(Dec 24): Taiwan Semiconductor Manufacturing Co (TSMC) shares touched a record high, as the world’s largest contract chipmaker is poised to cap its best annual stock performance in 25 years.</p></div>

<div class=newsTextDataWrapInner><p>The stock climbed as much as 1.4% in Taipei on Tuesday, briefly surpassing its Nov 8 peak, before erasing the gain to end flat. The move came after US chip stocks including key customer Nvidia Corp rallied overnight. TSMC shares are up 82% this year amid continued investor enthusiasm for artificial intelligence trades.</p></div>

<div class=newsTextDataWrapInner><p>“For us, TSMC remains the best way to play the AI theme without having to pick a winner or a technology, at a reasonable valuation,” said Kevin Net, head of Asian equities at Financiere de L Echiquier. The next catalyst to watch will be Nvidia’s presentation at CES 2025 next month as well as TSMC’s upcoming results and guidance, he added.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>With a client list that also includes Apple Inc and Advanced Micro Devices Inc, TSMC has been a major beneficiary of the boom in AI spending. The company is expected to report sales growth of 36% for the December quarter, with a gross profit margin at 58.3%, the highest since 2022.</p></div>

<div class="mt-3 imgw-800 embed-left"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://myassets.theedgemalaysia.com/pics/2024/tsmc-shares-24122024-bloomberg_20241224161354.jpg"><img alt="" src="https://myassets.theedgemalaysia.com/pics/2024/tsmc-shares-24122024-bloomberg_20241224161354.jpg" /></a></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Chng Shear Lane</em></p></div>


Taiwan Semiconductor Manufacturing Co (TSMC) shares touched a record high, as the world’s largest contract chipmaker is poised to cap its best annual stock performance in 25 years.

TSMC shares touch record high, eyeing best year since 1999 on AI

Honda and Nissan expect big benefits from their potential merger to create the world's third-largest auto group but intense competition from China raises questions about whether they can make it work in time.

Honda, Nissan tie-up requires something neither can spare: time

Apple has asked to participate in Google's upcoming US antitrust trial over online search, saying it cannot rely on Google to defend revenue-sharing agreements that send the iPhone maker billions of dollars each year for making Google the default search engine on its Safari browser.

Apple seeks to defend Google's billion-dollar payments in search case

Oil prices rose more than 1% on Tuesday, reversing the prior session's losses on a brightening short-term outlook tied to the prospect of slightly tightening supplies as trade thinned ahead of the Christmas and Hanukkah holidays.

Oil prices rise 1% in thin pre-holiday trade

Wall Street's main indexes all closed higher on Tuesday, with gains in megacap and growth stocks bolstering benchmarks in a truncated Christmas Eve session.

Wall Street ends higher as Santa rally begins

France’s new premier Francois Bayrou vowed to sharply narrow the nation’s deficit to close to 5% of GDP, a plan that threatens a repeat of the stand-off which toppled the last government.

French premier seeking budget cuts that toppled the previous cabinet

Salesforce Inc says it’s taking multiple large customers from former partner Veeva Systems Inc in a mounting rivalry to sell software to the pharmaceutical industry.

Salesforce fights with Veeva by snagging drug customers

Iranian authorities have lifted a ban on Meta's instant messaging platform WhatsApp and Google Play as a first step to scale back internet restrictions, Iranian state media reported on Tuesday.

Iran lifts ban on WhatsApp and Google Play, state media says

Social media platform TikTok recorded 2,606 requests from the Malaysian government to remove or restrict content on its platform in 1H2024, the highest among all governments in the period, according to its latest report on government removal requests.

Malaysia tops TikTok content, account removal requests in 1H2024 among govts

American Airlines Group Inc said a technical vendor glitch was the cause of a brief groundstop on all US flights on Christmas Eve, one of the busiest days of the holiday travel season.

American Air says Christmas Eve delays caused by tech glitch

KUALA LUMPUR (Dec 24): Here is a brief recap of the business news and corporate announcements that made the headlines on Tuesday:

Boustead Heavy Industries Corp Bhd's (KL:BHIC) shareholders have approved the disposal of the fabrication and engineering company’s 51% equity stake i...

BHIC, Pharmaniaga, MMAG, Prolintas, Nestcon, Datasonic, PUC, KKB Engineering, Parlo 

<p>KUALA LUMPUR (Dec 24): Here is a brief recap of the business news and corporate announcements that made the headlines on Tuesday:</p>

<p><b>Boustead Heavy Industries Corp Bhd</b>'s (KL:BHIC) shareholders have approved the disposal of the fabrication and engineering company’s 51% equity stake i...

<p>OCBC Bank (Malaysia) Bhd (OCBC Bank) has been named Malaysia’s “Bank of the Year” by London-based publication <i>The Banker</i> for the second consecutive year.</p>


OCBC Bank named top Malaysian bank for second year running

<p>Social media platform TikTok recorded 2,606 requests from the Malaysian government to remove or restrict content on its platform in 1H2024, the highest among all governments in the period, according to its latest report on government removal requests.</p>


<p>Major banks and business groups sued the Federal Reserve on Tuesday, alleging the US central bank's annual "stress tests" of Wall Street firms violate the law.</p>


Big banks, business groups sue US Fed over annual stress tests 

<p>Malaysian Rating Corporation Bhd (MARC) on Tuesday affirmed Malaysia's public information sovereign rating at AAA with a "stable" outlook.</p>

<p>However, MARC flagged challenges from a high fiscal deficit and debt levels, as well as the tax revenue-to-gross domestic product (GDP) ratio of 12.6% in 2023, which remains below the peer average despite recovering to pre-pandemic levels.</p>


MARC flags Malaysia's debt position as it keeps AAA, stable rating

<p>Wall Street's main indexes all closed higher on Tuesday, with gains in megacap and growth stocks bolstering benchmarks in a truncated Christmas Eve session.</p>


<p>American Airlines Group Inc said a technical vendor glitch was the cause of a brief groundstop on all US flights on Christmas Eve, one of the busiest days of the holiday travel season.</p>


<p>Salesforce Inc says it’s taking multiple large customers from former partner Veeva Systems Inc in a mounting rivalry to sell software to the pharmaceutical industry.</p>


<p>During their inaugural meeting on Monday, Malaysia and the Kyrgyz Republic committed to exploring collaboration and exchanging information on the latest advancements in agriculture.</p>


Malaysia, Kyrgyz Republic set to explore agriculture collaboration

<p>France’s new premier Francois Bayrou vowed to sharply narrow the nation’s deficit to close to 5% of GDP, a plan that threatens a repeat of the stand-off which toppled the last government.</p>


<p>Iranian authorities have lifted a ban on Meta's instant messaging platform WhatsApp and Google Play as a first step to scale back internet restrictions, Iranian state media reported on Tuesday.</p>


<p>European natural gas prices fluctuated above €45 (RM210.32) a megawatt-hour amid persistent supply concerns, with just a week left until a key transit deal between Russia and Ukraine expires.</p>


European gas swings with one week left before key transit deal expires

<p>Apple has asked to participate in Google's upcoming US antitrust trial over online search, saying it cannot rely on Google to defend revenue-sharing agreements that send the iPhone maker billions of dollars each year for making Google the default search engine on its Safari browser.</p>
