Taiwan's stock market came under heavy selling pressure on the 11th as uncertainty around U.S.-Iran peace talks, higher international oil prices and a broad overnight decline in U.S. equities pushed investors toward risk reduction. The Taiwan Weighted Index opened sharply lower and at one point fell more than 250 points to a low near 44,652, testing support at its five-day moving average, before trimming part of the decline to trade around 44,800 in the morning session. TSMC (2330.TW) provided key support by holding modest gains, while MediaTek (2454.TW) dropped more than 2% and became a major drag on large-cap electronics shares. Hon Hai, ASE Technology Holding and Quanta Computer also weakened, while Delta Electronics showed relative strength. Financial stocks moved cautiously with minor fluctuations. Small- and mid-cap names were comparatively resilient, with Poya hitting its second straight daily limit (the maximum one-day price move allowed on the exchange) on enthusiasm over its 1-for-10 stock split plan, and De Hong and Jianding also reaching daily limits. Market participants said concerns over crude supply linked to the Strait of Hormuz, Intel's reported plan to issue new shares, and the Philadelphia Semiconductor Index's near-3% fall on the 10th all added pressure to Taiwan's chip-heavy market. Overnight Taiwan index futures fell 271 points to 44,719, while morning turnover was estimated at NT$953.6 billion, or about $29.6 billion. The TPEx index (Taipei Exchange benchmark for smaller listed companies) fell 1.31 points, or 0.33%, indicating somewhat lighter selling in smaller stocks. Institutional investors said the market remains in high-level consolidation, with TSMC's steadiness helping underpin the downside as traders watch whether the benchmark can hold the key 45,000-point level.