Moreover, Taiwanese markets, notably the tech sector, received a boost on optimism that Apple (NasdaqGS: AAPL) orders for iPhone 7 will be higher than estimated.
“Now, investors simply seized on a strong showing made by semiconductor stocks on Wall Street at the end of last week and an upbeat mood about a possible improvement in shipments of the next-generation iPhones to hunt bargains today,” Miao added.
The tech sector is the largest component of the two Taiwan ETF’s underlying benchmarks, accounting for 57.4% of EWT’s holdings and 48.2% of FTW. Taiwan Semiconductor Manufacturing makes up 25.2% of EWT and 4.6% of FTW.
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iShares MSCI Taiwan ETF