Taiwan Fund Monthly Insights - January, 2025

The Taiwan TAIEX Total Return Index, (the “Benchmark”) rose by 2.37% in U.S. dollar terms, surpassing regional benchmarks. The Energy, Health Care and Information Technology sectors were the top performers. Within the Health Care sector, Pharmaceuticals, Biotechnology & Life Sciences was the best-performing industry group. In the Information Technology sector, the performance was primarily driven by the Semiconductors & Semiconductor Equipment industry group. During the month, the three poorest performing sectors were the Real Estate, Utilities, and Industrials. Within the Real Estate sector, the Real Estate Management & Development industry group was the largest detractor to sector performance.