09:06 AM EDT, 06/10/2025 (MT Newswires) -- Technology stocks were advancing pre-bell Tuesday with the Technology Select Sector SPDR Fund (XLK) was up 0.1% and the SPDR S&P Semiconductor ETF ( XSD ) gained 0.4%.

Tencent Music Entertainment Group ( TME ) shares were up more than 5% after the company said it plans to acquire Chinese online audio platform Ximalaya in a cash and stock deal.

Taiwan Semiconductor Manufacturing ( TSM ) shares were more than 2% higher after the company said its May net revenue rose by 39.6% year over year to 320.52 billion New Taiwan dollars ($10.70 billion).

Ibotta ( IBTA ) shares were up more than 2% after the company said it has approved a $100 million increase to its share repurchase program.