News that the Federal Reserve left interest rates unchanged and worries that this was only a temporary "break" in rate hikes, sent the U.S. markets lower today. Asian markets did better and iShares MSCI Taiwan (EWT) was the top performing exchange traded fund for the day, up 1.5%.
Taiwan’s market gained today after a report showed an unexpected growth in exports last month. Exports were up 21% over the past year. Taiwan Semiconductor Manufacturing and Hon Hai Precision Industry, top holdings in the ETF, were up on the news. Even with today’s news, the ETF is still below its 200-day moving average.
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