On November 18, 2025, TSMC announced it received about $4.71 billion (NT$147 billion) in subsidies from the US, Japan, Germany, and China over the past two years to support its global chip manufacturing expansion. These funds are tied to major new facilities in Kumamoto, Dresden, and Nanjing, and reflect ongoing international efforts to secure advanced semiconductor supply chains[1][5]. Despite this major development, TSMC shares closed at $277.91 on November 18, 2025, down 1.45%. The decline occurred amid broader market caution and follows a recent multi-day pullback, suggesting the news was not enough to offset prevailing risk sentiment or profit-taking after previous gains.