Taiwan Fund Monthly Insights - February, 2025

The Taiwan TAIEX Total Return Index, (the “Benchmark”) decreased by 2.26% in February 2025 in U.S. dollar terms, primarily due to geopolitical risks and the DeepSeek event. The decline was primarily driven by the Information Technology sector, which was the worst-performing sector. Within the Information Technology sector, Semiconductors & Semiconductor Equipment and Technology Hardware & Equipment were the poorest performing industry groups. During the month, the best performing sectors were Materials, Financials, and Industrials. Within the Financials sector, Banks and Financial Services were the main contributors to sector performance. In Industrials, performance was primarily driven by the Transportation industry group.