Taiwan shares extended their rally on the 13th, with the TAIEX closing up 503.41 points, or 1.11%, at 46,021.48 on turnover of NT$1.05 trillion (about $32.7 billion), retaking the 46,000 level. All three major institutional investor groups were net buyers, with combined net buying of about NT$90.76 billion (about $2.8 billion). Foreign investors were the main driver, buying a net NT$75.69 billion (about $2.4 billion), while dealers added NT$15.06 billion and investment trusts bought only about NT$969,000. The standout in the ETF market was the actively managed President Upgrade 50 (00403A). Listed on May 12 with initial assets under management, or AUM (total fund assets), of NT$79.17 billion (about $2.5 billion), the fund's AUM has climbed to NT$180.78 billion (about $5.6 billion) in three months. It closed at NT$10.30 on the day, up NT$0.20, or 1.98%, extending its winning streak to four sessions for a cumulative gain of 5.97%. Foreign investors bought a net 88,137 lots, equal to about NT$909 million (about $28.3 million) at the closing price, making it the top ETF by foreign net buying. Active ETFs dominated the foreign-investor ETF buying rankings, taking seven of the top 10 places. Market participants and analysts said that points to fast-growing acceptance of active ETF products in Taiwan, where managers pick stocks directly rather than tracking an index. 00403A's portfolio is concentrated in TSMC and the AI server supply chain, a positioning that has helped it outperform during the current rebound but could also increase volatility if those sectors weaken. The fund's beneficiary count fell to 1.0311 million from the previous week, even as AUM continued to rise, suggesting ownership is becoming more concentrated.