Taiwan's stock market dropped sharply on Monday, but the popular high-dividend ETF 00919 went the other way and closed at an all-time high — good news for its huge base of small investors.

• The Taiwan index fell more than 200 points, closing near 46,128, after weak US tech stocks dragged it down.
• At one point during the day the market was down 881 points before clawing back much of the loss.
• 00919 opened lower, then buyers piled in and pushed it to a record close of NT$31.96.
• Trading volume in the ETF jumped past 50,000 lots, showing unusually strong demand.
• Investors are also waiting on the fund's third-quarter payout, announced later the same day, after last quarter's payout topped NT$1 for the first time.

Outlook: If the payout comes in strong, money will likely keep flowing into high-dividend ETFs even as the broader market stays shaky.