• China has vowed resolute opposition to any efforts by Taiwan to combine with external forces and pursue independence, Reuters reported citing a spokesperson of its foreign ministry.

• The remarks came in response to a query about a plan announced this week by Taiwan to invest more than €10 million ($10 million) towards chip production in Lithuania.

• Tension in the Taiwan Strait is due to authorities of Taiwan's ruling Democratic Progressive Party (DPP) colluding with external forces, the spokesman, Zhao Lijian, added at a regular briefing in the Chinese capital of Beijing.

• Also Read: Taiwan Reasons Why It Is Futile For US And China To Harm TSMC

• Lithuania opened a trade office in Taiwan, potentially escalating tensions with China that have been simmering since the European Union member state drew a stiff rebuke from Beijing, Bloomberg reports.

• The opening comes a year after the government in Taipei opened an office in Lithuania's capital.

• China responded by downgrading diplomatic relations with the EU Baltic state over the office's explicit use of the name Taiwan, a democratically ruled island that Beijing claims as its own.

• The new Lithuanian trade office carries the name Taipei, which may avoid a harsher reaction from Beijing. China has repeatedly voiced opposition to countries engaging in official contact with the government in Taipei.

• Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) suspended the production of advanced silicon for Chinese startup Biren Technology to ensure compliance with U.S. regulations.

• TSMC, which makes most of its chips in Taiwan, cut its annual investment budget by at least 10% for 2022 and struck a more cautious note than usual on upcoming demand.

• Price Action: TSM shares traded higher by 2.90% at $64.58 in the premarket on the last check Tuesday.

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