iShares MSCI Taiwan (EWT) was up 13% for the month, making it one of the best exchange traded fund performers, behind the two gold ETFs, streetTRACKS Gold Shares (GLD) and iShares COMEX Gold Trust (IAU).

Technology has helped EWT.  The top holdings include Taiwan Semiconductor Manufacturing, the world’s largest supplier of custom made chips, which reported profits doubled in the first quarter based on increased demand for mobile phones and computers.  This stock represents 16% of the ETF.   Hon Hai Precision Industry provides computer connectors and other parts of Apple computers, comprises 8% of EWT.  And United Microelectronics, a contract maker of microchips, represent 4%.

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