Taiwan foreign equity outflows amid China friction but index weight still rising

  • Taiwan friction persists: US-Japan joint naval drill, China's naval presence east of Taiwan and ongoing aircraft sorties

  • TSMC and Taiwan's weight in MSCI EM has increased but foreigners have been net sellers in 2020, 2021 and so far in 2022

  • Taiwan looks expensive versus history among large EM peers on trailing PB and PE multiples but not on forward ones
January 25th, 2022
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