TSMC’s Surge Forces Traders to Look for New Ways to Bet on Stock

Taiwan Semiconductor Manufacturing Co.’s blistering rally has left investors boxed in, as crowded long positions make it difficult for both bulls and bears to place fresh bets on the stock.

Shares of the world’s largest contract chipmaker have climbed to fresh records in Taipei this month, buoyed by rising analyst targets and better-than-estimated sales. The surge has inflated the stock’s already hefty weighting in key indexes, leaving regional fund managers constrained by single‑stock limits struggling to increase exposure.