Taiwan Fund Monthly Insights - August, 2025

Taiwan's stock market had a lukewarm performance in August, following a strong rally earlier in the year. Earnings estimates were revised during the month, with most downgrades driven by the impact of the Taiwan Dollar (TWD) appreciation. The Taiwan TAIEX Total Return Index, (the “Benchmark”) increased by 0.75% in August 2025 in U.S. dollar terms. The Health Care, Industrials and Information Technology sectors were the best performing sectors. Within Health Care, the increase was primarily driven by the Pharmaceuticals, Biotechnology & Life Sciences industry group. Within the Industrials sector, the increase was primarily driven by the Capital Good industry group. During the month, the poorest performing sectors were Energy, Utilities and Real Estate. Within the Real Estate sector, the Real Estate Management & Development industry group was the poorest performing industry group.