Abstract: We analyzed the earnings revision of MSCI Taiwan index constituents for July 2026, finding the index's 2026E consensus EPS rose 9.4% month on month to NT$89.88 from NT$82.14, even as the index itself fell 4.4% from 2,069 to 1,977. Revisions were broadly positive, with 48 stocks seeing upward EPS revisions versus 12 downward. Individual stock EPS changes contributed NT$3.89 to the index EPS. The top contributors to index EPS by absolute impact were TSMC (2330 TT, +NT$1.64), Nan Ya Plastics (1303 TT, +NT$0.74), UMC (2303 TT, +NT$0.40), Formosa Plastics (1301 TT, +NT$0.33), and Evergreen Marine (2603 TT, +NT$0.24). The largest individual EPS upgrades were led by Formosa Plastics (+173%), Formosa Chemicals & Fibre (+43.2%), Nan Ya Plastics (+36.8%), UMC (+26.9%), and King Slide Works (+19.0%), while the largest EPS cuts were at Taiwan Cement (-6.2%), eMemory Technology (-1.9%), and Delta Electronics (-1.2%).
TSMC, King Slide Works, King Yuan Electronics, Formosa Chemicals & Fibre, UMC, Evergreen Marine
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