US-Iran War Rattles Taiwan Stocks, While AI and Nvidia GTC Provide Support

The US-Iran war has driven up oil prices and inflation concerns, prompting capital to leave emerging Asian markets. Taiwan stocks have borne the brunt because of high foreign ownership and the heavy weighting of semiconductor bellwethers. CTBC Investments said geopolitical conflicts typically trigger short-term corrections. However, AI server upgrades and demand for NVIDIA’s new platforms continue to shape Taiwan’s semiconductor, thermal-management, power-supply and chassis supply chains, providing medium- to long-term fundamental support.

In the week ended March 20, 2026, Taiwan’s benchmark index closed at 33,543.88, up 0.43% for the week. Foreign investors sold a net NT$165.266 billion, marking a third consecutive week of net sales exceeding NT$100 billion, while the three major institutional investor groups sold a combined net NT$169.702 billion. CTBC Investments said on March 23 that foreign investors had withdrawn $5.65 billion from Taiwan stocks, the largest outflow among emerging Asian equity markets. E.Sun Securities Investment Trust said it expected the GTC effect and SATShow, scheduled for March 24–26, to sustain buying.