Benzinga | Apr 20, 2021 11:03AM EDT

Taiwan's Export Surge From Global Semiconductor Chip Demand: Bloomberg

* The 5G and high-performance computing led global semiconductor demand spike, supported by the easing pandemic translated into Taiwan's fifth consecutive double-digit monthly export order growth, Bloomberg reports.

* Taiwan's export orders rose 33.3% to $53.7 billion in March, missing Bloomberg's 34.9% growth estimate. Higher demand for components for the remote-working device, 5G equipment, high-performance computing, and vehicles drove the growth.

* The growth trajectory is estimated to roll forward to the sixth month, with growth estimates between 29.8% and 33.7% in April.

* The National Development Council insinuated towards a booming Taiwan economy based on exports, share prices, and money supply projections reaching an all-time high since 1989, resurging from two years of uncertainty from the U.S.-China trade war and the global pandemic.

* Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) warned last week regarding a global semiconductor chip crisis extension in sectors ranging from automaking to consumer electronics to 2022.

* TSM raised its sales guidance to 20% for the second quarter. However, the growth could be partially offset by a possible export headwind from a stronger local currency.

* The Taiwan dollar posted its major two-day jump this year after a recent U.S. Treasury report labeling the Taiwan dollar as undervalued.

* The Taiwan ministry assured their support to companies catering to traditional industries to better weather the stronger currency.

* Price action: TSM shares traded lower by 0.13% at $115.25 on the last check Tuesday.