Taiwan’s Bureau of Labor Funds, managed by the Ministry of Labor, reported gains of TWD470bn (USD14.86bn) in H1 2023, buoyed by the country’s surging stock market. This 8.59% return rate recouped losses from last year when the TAIEX index dropped by 22.4%. The recent growth in the stock market saw TAIEX surge by 19.35%, with shares of Taiwan Semiconductor Manufacturing Co (TSMC) rising by 26%. The new Labor Pension Fund, holding the largest assets among labor funds, stood at TWD3.79tr at June’s end with an 8.38% return rate. In total, the funds had assets of TWD5.86tr by the end of June, with June witnessing the third-largest monthly gain ever. Deputy Director-General Liu Li-ju highlighted the strong performance of electronics stocks, particularly TSMC.
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