Taiwan Fund Monthly Insights - May, 2026

Taiwan's equity market delivered strong performance in May 2026, with the TAIEX Total Return Index (the “Benchmark”) rising 16.24% in U.S. dollar terms, driven by an AI upcycle and broad-based gains across the technology sector along with strong foreign institutional inflows of U.S. $8.5 billion. Average daily turnover surged 33% month over month. During the month, the best three performing industry groups were Technology Hardware & Equipment, Utilities and Semiconductors & Semiconductor Equipment. The three poorest performing industry groups were Energy, Health Care Equipment & Services and Consumer Staples Distribution & Retail. Note that we do not have any holdings in these industry groups.