Market Awaits Fed Decision as 00988A Attracts Countercyclical Capital Inflows

Ahead of the U.S. Federal Reserve's interest rate decision and earnings announcements from major technology companies, market sentiment has turned cautious, with major U.S. indices fluctuating and weakening. Selling pressure on tech stocks has intensified, painting the market in red, and investor sentiment has become increasingly conservative.

However, examining capital flows reveals that demand for actively managed overseas equity ETFs remains strong, with funds flowing countercyclically into these products. This reflects investor confidence in actively managed funds with stock-picking capabilities, aiming to capture medium- to long-term growth opportunities even amid market volatility.

According to CMoney data, trading in actively managed overseas equity ETFs remains robust. On yesterday (28th), total trading volume for this category reached 147,700 lots, with a transaction value of NT$2.155 billion. Among these, the Uni-President Global Innovation ETF (00988A-TW) has attracted the most market attention, recording over 81,300 lots in daily trading volume and approximately NT$1.268 billion in transaction value—both leading the category.

Beyond strong capital momentum, 00988A continues to outperform its peers in long-term performance. According to CMoney data as of July 28, 00988A has risen 31.76% over the past six months and 52.68% year-to-date, ranking first among its peers. Even amid heightened market volatility, 00988A has demonstrated consistent cumulative return potential.

Looking ahead, Uni-President Asset Management's research team notes that global equity markets have entered a period of consolidation after recent gains. Market sentiment is being influenced by corporate earnings, the direction of U.S. monetary policy, and geopolitical risks, suggesting that short-term volatility may persist. However, the long-term growth trend of AI remains unchanged, with capital expenditures by global tech giants staying at high levels, supporting sustained earnings momentum in related industries.

Investors are advised to take advantage of market volatility by adopting a phased investment strategy, focusing on AI supply chain stocks with valuations that have moderately corrected but still possess solid fundamental growth potential. As the market gradually absorbs short-term uncertainties, and with the continuation of AI investment trends and year-end valuation resets, global equities may regain upward momentum.

Active Overseas ETF Trading Volume Ranking – July 28

- 00988A Uni-President Global Innovation: Volume 81,300 lots, 6-month return 31.76%, YTD return 52.68% - 00990A Yuanta AI New Economy: Volume 36,300 lots, 6-month return 31.43%, YTD return 44.56% - 00997A Capital American Growth: Volume 17,300 lots, 6-month return NA, YTD return NA - 00402A Allianz U.S. Technology: Volume 6,300 lots, 6-month return NA, YTD return NA - 00998A Fuh Hwa Financial Dividend: Volume 3,700 lots, 6-month return NA, YTD return NA - 00989A JPMorgan U.S. Technology: Volume 300 lots, 6-month return 5.36%, YTD return 6.34% - 00983A CTBC ARK Innovation: Volume 1,100 lots, 6-month return -7.99%, YTD return -6.9% - 00986A Taishin Leading Growth: Volume 1,500 lots, 6-month return 15.75%, YTD return 20.47%

Source: CMoney, data as of 2026/7/28

Disclaimer: The stocks, funds, and futures products mentioned in this article are for reference only and do not constitute investment advice. Investors should make independent judgments, carefully assess risks, and bear their own losses.