NEW YORK, Oct. 19, 2026 /CNW/ — Fly On Wall Street News Commentary – Taiwan’s benchmark stock index was up 62% this year, the best showing of any major equity gauge in the world, when Bloomberg reported on Oct. 16 that some of the island’s professional fund managers and analysts are quitting their jobs to invest their own money. Strict rules keep them from trading the very stocks they pick for clients, and in a year when about one in ten stocks in the index has more than doubled, some have decided the trade-off is no longer worth it. Companies and funds mentioned in this article include: Taiwan Semiconductor Manufacturing Company Limited [TSMC] (NYSE: TSM), ASE Technology Holding Co., Ltd. [ASE] (NYSE: ASX), United Microelectronics Corporation [UMC] (NYSE: UMC), iShares MSCI Taiwan ETF (NYSE Arca: EWT), The Taiwan Fund, Inc. (NYSE: TWN).

Watching From Behind the Locker

Taiwan does not ban personal investing outright, but its asset-management code of conduct bars staff from trading a locally listed stock or a linked derivative within seven business days before or after their firm’s funds trade it, which in practice rules out personal stock-picking. Fund managers must also lock away their phones, laptops and smartwatches each morning until the market closes at 1:30 p.m. The phone rule was formalized in 2024 to deter insider trading, the Taipei Times reported in July, after six former fund managers from four firms were indicted for front-running trades through the accounts of relatives and friends.

Ken Tsai, 40, a fund manager who until July worked at a large Taiwanese asset manager that Bloomberg did not name, told Bloomberg he made a Taiwanese maker of AI-server data-transfer components his fund’s largest holding in 2024. The stock rose more than fivefold in 2025 and about sixfold again this year, but he owned none of it personally. “It left me with a strong sense of relative deprivation,” he said. He now works at a private investment firm in Taipei, which was also not named. Pay adds to the pull: Taiwan portfolio managers earn roughly US$124,000 to US$311,000 a year, well below Hong Kong base salaries, according to Bloomberg, citing headhunters and recruitment-firm data.

The private shops they are joining sit outside those rules. They register as private companies with the Ministry of Economic Affairs and do not need asset-management licenses from the Financial Supervisory Commission because they do not raise public money. Brokers told Bloomberg some of them now generate more than NT$10 billion in monthly trading volume, rivaling mid-sized asset managers.

The Rally Behind the Exits

Much of the rally traces back to the AI hardware supply chain. TSMC reported third-quarter revenue of NT$1.49 trillion (US$46.7 billion) on Oct. 15, up 50.9% from a year earlier, while net income jumped 68.7% and gross margin reached 66.4%. It guided fourth-quarter revenue from US$52.3 billion to US$54.3 billion.

Chip packaging and testing has ridden the same wave. ASE Technology reported September net revenue of NT$88.1 billion, up 45.5% from a year earlier, and third-quarter revenue of NT$244.2 billion, up 44.8%.

Mature-node foundry UMC reported August sales up 30.71% from a year earlier, lifting year-to-date sales 14.66%. In its second-quarter report, the company guided for capacity utilization above 90% in the third quarter and said revenue from its 22/28nm business continues to set record highs.

CONTINUED… Read more market coverage at: flyonwallstreet.com

A Talent Squeeze, Not a Stampede

The numbers point to churn more than an exodus. Fewer than half of Taiwan’s 20 largest local equity mutual funds have kept the same portfolio manager for more than three years, according to fund-data site MoneyDJ, and Bloomberg reported that applications for junior roles at some international firms have roughly halved this year. Yet the FSC said the industry’s registered headcount actually rose to 4,729 in September from 4,581 at the end of 2025. Firms are responding: the largest foreign asset manager in Taiwan is offering cross-market analyst roles and office rotations to keep staff.

Regulators are paying attention. The FSC said on Oct. 15 it is gathering information and plans to review the rules, balancing market development against conflicts of interest and investor protection. One asset-management executive told Bloomberg there is no easy solution for now.

The Case for the Pros

At least one professionally managed fund has kept pace. The Taiwan Fund, a closed-end fund listed in New York, reported a 47.36% total return for its fiscal quarter ended May 31, against 26.12% for the TAIEX Total Return Index over the same period, with net asset value of US$116.90 a share at the end of that quarter.

Investors who prefer to own the whole market can use the iShares MSCI Taiwan ETF, which holds about US$11.9 billion in assets.

Last week was a reminder of how quickly the math can change. The TAIEX fell 4.6%, its first weekly decline in five weeks, as a technology selloff spread and TSMC CEO C.C. Wei warned of macroeconomic uncertainty and weak consumer demand, according to Trading Economics. In New York, TSMC’s shares fell 8.98% from the Oct. 9 close to $412.61 on Oct. 16, ASE dropped 14.86% to $39.53, UMC slid 13.68% to $19.82, the iShares fund lost 7.04% to $106.26 and The Taiwan Fund declined 8.78% to $94.18, according to Stock Analysis data. For the managers who just traded a salary for their own account, those swings now land on them.

Taiwan’s index fell 4.6% in a single week. Learn to read the charts behind moves like these with the free Stock Preachers guide, plus The Roadmap market reports, at stockpreachers.com.

Contact Information:

flyonwallstreet.com

Media Contact: info@flyonwallstreet.com 

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is not a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances.

This article is independent news commentary. Fly On Wall Street is wholly owned and operated by Market Equities Limited (“MEL”), a company incorporated under the laws of Ireland. MEL has not been paid by any fund sponsor or company mentioned in this article. MEL and its owners, operators, directors, and affiliates do not currently own any shares of the funds or companies mentioned in this article, but reserve the right to, and will, buy and sell shares of those funds and companies at any time without further notice. Weekly price changes for U.S.-listed shares are from the October 9, 2026 close to the October 16, 2026 close based on Stock Analysis data and do not include distributions. Information is drawn from company and fund releases and filings, published reporting and third-party data believed to be reliable, but its accuracy is not guaranteed. Investing in securities carries risk, including the loss of some or all of your investment. This document is governed by the laws of Ireland.

View original content to download multimedia:https://www.prnewswire.com/news-releases/taiwans-stock-pickers-are-walking-out-to-bet-their-own-money-302912898.html

SOURCE Fly On Wall Street

NEW YORK, Oct. 19, 2026 /CNW/ — Fly On Wall Street News Commentary – Taiwan’s benchmark stock index was up 62% this year, the best showing of any major equity gauge in the world, when Bloomberg reported on Oct. 16 that some of the island’s professional fund managers and analysts are quitting their jobs to invest their own money. Strict rules keep them from trading the very stocks they pick for clients, and in a year when about one in ten stocks in the index has more than doubled, some have decided the trade-off is no longer worth it. Companies and funds mentioned in this article include: Taiwan Semiconductor Manufacturing Company Limited [TSMC] (NYSE: TSM), ASE Technology Holding Co., Ltd. [ASE] (NYSE: ASX), United Microelectronics Corporation [UMC] (NYSE: UMC), iShares MSCI Taiwan ETF (NYSE Arca: EWT), The Taiwan Fund, Inc. (NYSE: TWN).

Watching From Behind the Locker

Taiwan does not ban personal investing outright, but its asset-management code of conduct bars staff from trading a locally listed stock or a linked derivative within seven business days before or after their firm’s funds trade it, which in practice rules out personal stock-picking. Fund managers must also lock away their phones, laptops and smartwatches each morning until the market closes at 1:30 p.m. The phone rule was formalized in 2024 to deter insider trading, the Taipei Times reported in July, after six former fund managers from four firms were indicted for front-running trades through the accounts of relatives and friends.

Ken Tsai, 40, a fund manager who until July worked at a large Taiwanese asset manager that Bloomberg did not name, told Bloomberg he made a Taiwanese maker of AI-server data-transfer components his fund’s largest holding in 2024. The stock rose more than fivefold in 2025 and about sixfold again this year, but he owned none of it personally. “It left me with a strong sense of relative deprivation,” he said. He now works at a private investment firm in Taipei, which was also not named. Pay adds to the pull: Taiwan portfolio managers earn roughly US$124,000 to US$311,000 a year, well below Hong Kong base salaries, according to Bloomberg, citing headhunters and recruitment-firm data.

The private shops they are joining sit outside those rules. They register as private companies with the Ministry of Economic Affairs and do not need asset-management licenses from the Financial Supervisory Commission because they do not raise public money. Brokers told Bloomberg some of them now generate more than NT$10 billion in monthly trading volume, rivaling mid-sized asset managers.

The Rally Behind the Exits

Much of the rally traces back to the AI hardware supply chain. TSMC reported third-quarter revenue of NT$1.49 trillion (US$46.7 billion) on Oct. 15, up 50.9% from a year earlier, while net income jumped 68.7% and gross margin reached 66.4%. It guided fourth-quarter revenue from US$52.3 billion to US$54.3 billion.

Chip packaging and testing has ridden the same wave. ASE Technology reported September net revenue of NT$88.1 billion, up 45.5% from a year earlier, and third-quarter revenue of NT$244.2 billion, up 44.8%.

Mature-node foundry UMC reported August sales up 30.71% from a year earlier, lifting year-to-date sales 14.66%. In its second-quarter report, the company guided for capacity utilization above 90% in the third quarter and said revenue from its 22/28nm business continues to set record highs.

CONTINUED… Read more market coverage at: flyonwallstreet.com

A Talent Squeeze, Not a Stampede

The numbers point to churn more than an exodus. Fewer than half of Taiwan’s 20 largest local equity mutual funds have kept the same portfolio manager for more than three years, according to fund-data site MoneyDJ, and Bloomberg reported that applications for junior roles at some international firms have roughly halved this year. Yet the FSC said the industry’s registered headcount actually rose to 4,729 in September from 4,581 at the end of 2025. Firms are responding: the largest foreign asset manager in Taiwan is offering cross-market analyst roles and office rotations to keep staff.

Regulators are paying attention. The FSC said on Oct. 15 it is gathering information and plans to review the rules, balancing market development against conflicts of interest and investor protection. One asset-management executive told Bloomberg there is no easy solution for now.

The Case for the Pros

At least one professionally managed fund has kept pace. The Taiwan Fund, a closed-end fund listed in New York, reported a 47.36% total return for its fiscal quarter ended May 31, against 26.12% for the TAIEX Total Return Index over the same period, with net asset value of US$116.90 a share at the end of that quarter.

Investors who prefer to own the whole market can use the iShares MSCI Taiwan ETF, which holds about US$11.9 billion in assets.

Last week was a reminder of how quickly the math can change. The TAIEX fell 4.6%, its first weekly decline in five weeks, as a technology selloff spread and TSMC CEO C.C. Wei warned of macroeconomic uncertainty and weak consumer demand, according to Trading Economics. In New York, TSMC’s shares fell 8.98% from the Oct. 9 close to $412.61 on Oct. 16, ASE dropped 14.86% to $39.53, UMC slid 13.68% to $19.82, the iShares fund lost 7.04% to $106.26 and The Taiwan Fund declined 8.78% to $94.18, according to Stock Analysis data. For the managers who just traded a salary for their own account, those swings now land on them.

Taiwan’s index fell 4.6% in a single week. Learn to read the charts behind moves like these with the free Stock Preachers guide, plus The Roadmap market reports, at stockpreachers.com.

Contact Information:

flyonwallstreet.com

Media Contact: info@flyonwallstreet.com 

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is not a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances.

This article is independent news commentary. Fly On Wall Street is wholly owned and operated by Market Equities Limited (“MEL”), a company incorporated under the laws of Ireland. MEL has not been paid by any fund sponsor or company mentioned in this article. MEL and its owners, operators, directors, and affiliates do not currently own any shares of the funds or companies mentioned in this article, but reserve the right to, and will, buy and sell shares of those funds and companies at any time without further notice. Weekly price changes for U.S.-listed shares are from the October 9, 2026 close to the October 16, 2026 close based on Stock Analysis data and do not include distributions. Information is drawn from company and fund releases and filings, published reporting and third-party data believed to be reliable, but its accuracy is not guaranteed. Investing in securities carries risk, including the loss of some or all of your investment. This document is governed by the laws of Ireland.

View original content to download multimedia:https://www.prnewswire.com/news-releases/taiwans-stock-pickers-are-walking-out-to-bet-their-own-money-302912898.html

SOURCE Fly On Wall Street

Donation supports community childcare needs and expands access to early childhood education in McMinn County

ATHENS, Tenn., Oct. 19, 2026 /PRNewswire/ — DENSO Manufacturing Athens Tennessee, Inc. (DMAT), has donated approximately three acres of property to the Athens-McMinn Family YMCA that will serve as the future site of a new early learning center. The organizations recently finalized the land transfer, enabling the YMCA to move forward with plans to expand access to early childcare and education in McMinn County.

The YMCA expects to break ground on the facility in early 2027. Construction is anticipated to be completed by early 2028.

The donated property is located southwest of DENSO’s Athens campus, with close proximity to Interstate 75 and other large employers. Once complete, the early learning center will serve as the home of a preschool and childcare services that will be open to families throughout the community.

The project stems from a community needs assessment conducted by the United Way of McMinn and Meigs Counties that identified a shortage of childcare in the area. In response, local community leaders began exploring opportunities to increase childcare access to support working families. The McMinn County Economic Development Authority (EDA) played a key role in advancing the initiative, helping connect DENSO and the YMCA and supporting efforts to bring the project to fruition.

“For more than two decades, DENSO has been proud to call Athens home, and we’re committed to investing in the long-term success of our community,” said Mark Moses, president of DMAT. “It’s what drove us to donate this land for a project that will benefit families across the region. Access to quality childcare and early learning opportunities helps communities thrive, and we’re excited to see this resource take shape so many can benefit from it.”

U.S. Representative Chuck Fleischmann also played an important role in the effort, securing a $2.5 million federal grant for the development of the center.

“This project is a shining example of what we can accomplish when public and private partners come together to invest in our future,” said U.S. Representative Chuck Fleischmann. “By expanding access to high-quality early childhood education and childcare, we’re giving families in Athens and McMinn County the support they need to thrive. I’m proud to have helped secure $2.5 million in federal funding for this new center and to work alongside DENSO, the YMCA, and our local leaders to make this vision a reality. Together, we’re building a stronger foundation for our children, our workforce, and our entire community.”

“We’re grateful to DENSO, the McMinn County EDA and U.S. Rep. Fleischmann for helping make this project possible,” said Bradi Sewell, CEO and Executive Director of the Athens-McMinn Family YMCA. “This center will meet an important need in our community, expanding access to childcare for local families. It will only strengthen how we help kids in McMinn County learn, grow and thrive.”

“Strong communities depend on strong partnerships,” said Lindsey Ferguson, executive director of the McMinn County EDA. “We’re proud to have helped bring DENSO and the YMCA together on a project that will support families, employers and the future of McMinn County, further reinforcing that our region is a great place to live, work and raise families.”

DMAT, with its team of more than 1,200 team members, manufactures advanced automotive components and systems and is McMinn County’s largest employer. Since beginning Athens operations in 1997, the company has remained committed to supporting the local community through investments, volunteerism and partnerships that help create a better quality of life for area residents.

About DENSO
Globally headquartered in Kariya, Japan, DENSO is a 7,540.0 billion yen (US$47.2 billion) leading mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in around 170 facilities worldwide to provide opportunities for rewarding careers and to produce cutting-edge electrification, powertrain, thermal and mobility electronics products, among others, that change how the world moves. In developing such solutions, the company’s 155,000 global employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. DENSO spent around 9.2 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2026. For more information about DENSO’s operations worldwide, visit https://www.denso.com/global/en/.

In North America, DENSO is headquartered in Southfield, Michigan, and employs 23,000+ team members across more than 40 sites in the U.S, Canada and Mexico. In the fiscal year ending March 31, 2026, DENSO in North America generated $12.7 billion in consolidated sales. To learn more about DENSO operations in the region, please visit https://www.denso.com/us-ca/en/. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/denso-land-donation-supports-new-ymca-early-learning-center-in-athens-302912906.html

SOURCE DENSO