Taiwan Fund Monthly Insights - March, 2026

The Taiwan's equity market declined in March 2026, with the TAIEX Total Return Index (the “Benchmark”) down 12.38% in U.S. dollar terms, driven by a record $25.1 (USD) billion net sell-off by foreign institutional investors (FINIs), as the escalating conflict in the Middle East heightened concerns over energy supply disruptions and rising inflation. During the month, the three poorest performing industry groups were Pharmaceuticals, Biotechnology & Life Sciences, Health Care Equipment & Services and Consumer Discretionary Distribution & Retail. We do not have any holdings in those three industry groups. The best performing industry groups were Energy and Consumer Staples Distribution & Retail. Though both industry groups posted negative returns, they outperformed the broader benchmark.