Shares of Taiwan's TSMC soar after Intel's apparent manufacturing retreat

FILE PHOTO: A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan August 31, 2018. REUTERS/Tyrone Siu

TAIPEI (Reuters) - Shares of Taiwan Semiconductor Manufacturing Co Ltd (TSMC) jumped on Monday after U.S. chipmaker Intel signaled it may stop manufacturing its own chip components.

Intel last week signaled it may give up manufacturing its own chip designs after falling far behind schedule developing its newest technology.

Shares in TSMC, the world’s largest contract chipmaker, rose nearly 10% to a record high, joining a rally of Intel’s rivals including Advanced Micro Devices.

Reporting By Yimou Lee; Editing by Kim Coghill