Taiwan’s Taiex leads gains in Asia-Pacific as TSMC shares soar following earnings beat

SINGAPORE — Shares in Asia-Pacific rose on Friday following overnight gains on Wall Street with the S&P 500 jumping nearly 2%

The Taiex in Taiwan surged 2.4% on the day to 16,781.19, leading gains among the region’s major markets, as shares of Taiwan Semiconductor Manufacturing Company rose 4.71% following an earnings release a day earlier

TSMC on Thursday reported a net profit of 156.3 billion Taiwan dollars (around $5.57 billion) for the third quarter ended Sept. 30, above expectations of a 149 billion Taiwan dollars average of analyst estimates compiled by Refinitiv according to Reuters

In Hong Kong, the Hang Seng index was 1.17% higher, as of its final hour of trading. Hong Kong stocks returned to trade on Friday after stock markets in the city were closed for two days

Mainland Chinese stocks closed higher, with the Shanghai composite up 0.4% to 3,572.37 while the Shenzhen component gained 0.52% to 14,415.99

In Japan, the Nikkei 225 climbed 1.81% to close at 29,068.63 while the Topix index advanced 1.86% to finish the trading day at 2,023.93. South Korea’s Kospi closed 0.88% higher at 3,015.06

Australian stocks closed higher as the S&P/ASX 200 rose 0.69% to 7,362. Shares of Qantas Airways jumped 1.97% after the New South Wales government announced Friday that quarantine requirements will be scrapped for fully vaccinated international travelers from Nov

MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 1.15% higher

Overnight on Wall Street, the S&P 500 surged 1.71% to 4,428.26 — its biggest jump since March — as investors cheered better-than-expected earnings reports from major firms such as Bank of America