The Taiwanese exchange traded fund (ETF) continues to hit new highs despite the global market correction. Taiwan is the 17th largest economy in the world, and serves as one of the "four tigers" along with South Korea, Hong Kong and Singapore, according to Asianinfo.com. Taiwan’s economy has lagged others in the region, but robust exports helped the economy grow in the first quarter. Forbes reports the GDP grew slightly higher than average in the same time.
Taiwan has some problems with domestic issues, such as a downturn in private consumption, a weakening currency and money flowing out of the country, as noted in The Wall Street Journal. iShares MSCI Taiwan (EWT) is up 3% year-to-date and has reached new highs. With Taiwan Semiconductor Manufacturing as the top holding (14%), and 4 of the top 5 holdings are techonolgoy based, perhaps it is the export related industry that is helping out EWT.
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