On July 17, iShares MSCI Taiwan ETF (EWT) fell 5.44% overnight, trading at $94.71/share, with turnover of $1.3563 million.
On the news front, TSMC — the largest constituent of the MSCI Taiwan Index — reported Q2 net profit of NT$706.6 billion (up 77.4% YoY), revenue of NT$1.27 trillion (up 36% YoY), and raised full-year USD revenue growth guidance to slightly above 40% from over 30%, while lifting capital expenditure to $60–64 billion from $52–56 billion. Despite the across-the-board beat, TSMC shares fell over 5% post-earnings in a classic buy-the-rumor, sell-the-fact reaction, as the stock had already gained approximately 77% over the past year. The pullback in TSMC directly weighed on EWT, which tracks the MSCI Taiwan Index with heavy concentration in technology names.
The fund generally invests at least 80% of its assets in the component securities of its underlying index, a free float-adjusted market capitalization-weighted index designed to measure the performance of the large- and mid-capitalization segments of the equity market in Taiwan.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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