Shares of technology companies rose amid a broad market rebound.
Taiwan Semiconductor Manufacturing Co. cut its capital expenditure forecast by about 10% this year, despite reporting a record quarterly profit surge, responding to headwinds including slowing global chip demand and rising costs.
The world's largest contract chip maker posted an 80% increase in net income for the July-to-September quarter, mainly due to strong sales of its cutting-edge chips used in smartphones and other devices.
Samsung Electronics has been granted a one-year exemption from new U.S. curbs on China's chip industry, according to people familiar with the matter, joining a list of semiconductor giants that have received dispensation.
TSMC also said it obtained the exemption from U.S. rules, enabling the world's biggest contract chip maker to keep expanding its facilities in China's eastern city of Nanjing.
Write to Amy Pessetto at amy.pessetto@dowjones.com
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