taiwan semiconductor manufacturing co shares were sharply higher friday after its thirdquarter net profit rose 80 to a new record and concerns eased somewhat about excess capacity shares were recently 49 higher at 41450 new taiwan dollars after rising as much as 53 earlier taiwans benchmark taiex index was recently 29 higher tsmc said after thursdays market close that net profit rose to a record of nt28087 billion us881 billion for the third quarter that exceeded the estimate for nt26731 billion from a poll of analysts by sp global market intelligence tsmc lowered its capitalexpenditure forecast to us36 billion for 2022 compared with an earlier goal of at least us40 billion set three months ago due in part to weaker demand for semiconductors and rising costs some investors had been hoping for a cut in capex to avoid excess capacity analysts said tsmc also said thursday that it was granted a oneyear exemption from new us curbs on chinas chip industry for its facilities in chinas eastern city of nanjing tsmcs revenue from chinese clients is mostly for its less advanced chips which would be less of a concern under the new us rules citi analysts laura chen and jack chen said in a research note its most advanced technology is mainly for us clients the analysts said tsmcs revenue from customers in north america made up 72 of the thirdquarter total while revenue from china accounted for 8