Taiwan Fund Monthly Insights - March, 2025

The Taiwan TAIEX Total Return Index, (the “Benchmark”) decreased by 11.08% in March 2025 in U.S. dollar terms, primarily due to FINI (Foreign institutional investors) sell-off driven by U.S. tariff uncertainties. The Health Care, Information Technology and Utilities sectors were the poorest performing sectors. Within Health Care, Pharmaceuticals, Biotechnology & Life Sciences was the poorest performing industry group. During the month, Communications Services was the best-performing sector. Within Communication Services, Telecommunication Services was the best performing industry group.