Report published August 28, 2026
Goldman Sachs Taiwan Weekly: TAIEX Gains Driven by Ex-TSMC Tech & Foreign Inflows
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 28, 2026
- Analysis as of
- August 28, 2026
Authors / editors: Alvin So, CFA, Timothy Moe, CFA, Kinger Lau, CFA, Sunil Koul, Terry Chan
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
The Taiwan TAIEX gained 2.4% this week led by ex-TSMC Tech and Chemicals, supported by US$3.7bn of net foreign cash equity buying. Corporate earnings and industrial production momentum remain robust, with FTSE index rebalancing expected to bring US$1.2bn in passive inflows.
Key Takeaways
- 1.TAIEX/MXTW gained 2.4%/2.2% over the week, outperforming MXAPJ by 2.8pp, driven by ex-TSMC Tech (+5-6%), Chemicals (+7%), and Insurance (+4%).
- 2.Foreign institutional investors (QFIIs) were net buyers of US$3.7bn in cash equities, heavily concentrated in Tech (US$3.0bn total, including US$0.8bn in TSMC).
- 3.The FTSE Global Equity Index Series September 2026 rebalancing is estimated to drive US$1.2bn of passive inflows into Taiwan equities across 7/22 additions.
Table of Contents
- Charts of the Week: FTSE Global Equity Index Series Review
- Taiwan Market/Sector Summary & Scorecard
- GS Macro & Market Forecasts
- Performance Snapshot
- Sector Leaders/Laggards
- Style/Factor Monitor
- Equity Flows
- ETF Flows
- Regional Fund Flows and Positioning
- Valuations in Context
- Earnings Revisions
- TSMC ADR Premium Reversal Index (GSSRTSMR)
- Equity and Policy Risk Indicators
- Macroeconomic Indicators
- Monthly Sales Tracker (July 2026) and 2Q26 Earnings Summary
- Disclosure Appendix
Report data
Exhibit 2: Taiwan Market/Sector Summary & Scorecard — as of August 28, 2026.
| Metric | Estimate | Context |
|---|---|---|
| TAIEX Weekly Price Return | 2.4% | Outperformed MXAPJ by 2.8pp. |
| QFII Cash Equity Net Inflows | 3.7 USD billion | Foreign buying concentrated in Tech (+US$3.0bn total) and Financials (+US$0.4bn). |
| Estimated FTSE GEIS Passive Inflow | 1.2 USD billion | Estimated passive inflows driven by 7/22 additions in Taiwan GEIS rebalancing. |
| Taiwan Industrial Production Growth | 25.6 % YoY | Driven by strong tech production; beat consensus estimate of +20.7%. |
| MSCI Taiwan Forward 12M P/E | 19.2 x | Represents +1.7 standard deviations above 10-year average. |
Reports in this series
Taiwan Weekly Kickstart is shown in chronological order through this edition, published on August 28, 2026.
Part of the Taiwan Weekly Kickstart series — view all 4 editions
- May 24Taiwan Weekly Kickstart TAIEX +3 to fresh record highs, led by broad-based tech strength, supported by both domestic and fo...
- Jun 6Taiwan Weekly Kickstart TAIEX gained 1
- Jul 25Taiwan Weekly Kickstart TAIEX rebounded 2 , led by a recovery in Tech, despite a Friday pullback amid escalating US-Iran ten...
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Authors / Editors
Reported Data Context
- TAIEX Weekly Price Return: 2.4 % (1-Week ended 2026-08-28) · Source: FactSet, Bloomberg
- QFII Cash Equity Net Inflows: 3.7 USD billion (Past 1 Week) · Source: TWSE, TEJ
- Estimated FTSE GEIS Passive Inflow: 1.2 USD billion (Effective post Sep 18, 2026) · Source: FTSE Russell, Goldman Sachs Global Investment Research
- Taiwan Industrial Production Growth: 25.6 % YoY (July 2026) · Source: Haver Analytics
- MSCI Taiwan Forward 12M P/E: 19.2 x (As of 2026-08-28) · Source: FactSet, MSCI
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