JPMorgan Asset Doesn’t Think Much of Taiwan’s Stock Rally – Bloomberg

Outside of megacap Taiwan Semiconductor Manufacturing Co., Taiwan’s equity universe looks increasingly unappealing to Howard Wang.

Wang, who oversees JPMorgan Asset Management’sGreater China fund, has cut its Taiwan holdings to 18 percent of the total from 25 percent two years ago, even as the island’s shares rallied. Almost half of that allocation is TSMC, which makes chips for companies such as Apple Inc.

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