Taiwan Fund Monthly Insights - July, 2025

Taiwan's stock market posted solid gains in July, driven by sustained strength in artificial intelligence (“AI”) infrastructure, with the next key focus being on tariff cost-sharing. The Taiwan TAIEX Total Return Index, (the “Benchmark”) increased by 4.65% in July 2025 in U.S. dollar terms. The Energy, Materials and Information Technology sectors were the best performing sectors. Within Information Technology, the increase was primarily driven by the Technology Hardware & Equipment and Semiconductors & Semiconductor Equipment industry groups. During the month, the poorest performing sectors were Health Care, Utilities and Real Estate. Within the Health Care sector, the Pharmaceuticals, Biotechnology & Life Sciences industry group was the poorest performing industry group.