Taiwan shares ended marginally higher on August 17 after the TAIEX briefly tested the 46,000-point level before settling up 46.26 points, or 0.1%, at 45,857.27. The market stayed in a high-level consolidation pattern, with the full-day high and low formed within roughly the first 10 minutes, an intraday swing of 424.23 points, and turnover on the centralized exchange at NT$942.02 billion, about $29.6 billion, below NT$1 trillion and around 12% lower than the previous session. Institutional flows remained supportive. The three major investor groups posted combined net buying of NT$29.11 billion, led by foreign investors with a net buy of NT$45.45 billion, extending their buying streak to six straight sessions. Foreign investors have accumulated NT$251.58 billion over those six sessions and NT$278.27 billion since the start of August. Investment trusts were net sellers of NT$17.75 billion, their biggest single-day net selling since July, while proprietary traders were net buyers of NT$1.41 billion. In futures, foreign investors cut their net short position in Taiwan index futures to 83,474 contracts, largely by increasing long positions. Leadership rotated within the market rather than signaling a broader risk-off move. Optoelectronics was the strongest sector, rising 4.86%, as investors bet on pre-launch smartphone restocking and on co-packaged optics and optical communications themes. Largan Precision closed limit-up at NT$5,070, Genius Electronic Optical also hit limit-up, and LandMark Optoelectronics, Visual Photonics Epitaxy and IET-KY were among the names driven higher by tight supply and expected fourth-quarter price increases in indium phosphide substrates and epitaxial wafers. AI upstream materials were also favored, with Unimicron at limit-up, Kinsus Interconnect Technology up nearly 5%, and Elite Material ending at a record NT$6,350. Shipping stocks led non-electronics gains as container and tanker freight rates stayed firm. Wan Hai Lines closed limit-up at NT$99.6, while Yang Ming Marine Transport and Evergreen Marine both rose more than 5%, and airline shares including EVA Airways also advanced. By contrast, graphics card, motherboard and peripheral names came under profit-taking, with Gigabyte Technology falling limit-down, MSI and Asustek Computer dropping nearly 6%, and Inventec and Pegatron losing more than 4%. Large AI-related stocks were mixed. TSMC rose NT$5 to NT$2,400, while MediaTek fell 3.8% to NT$4,050 and Hon Hai Precision dropped more than 1% to NT$255. King Slide Works surged to limit-up and a record NT$13,750 after reporting July net profit attributable to parent of NT$4.79 billion and earnings per share of NT$50.24. Analysts at SinoPac Securities Investment Advisory said the market remains above its monthly and quarterly moving averages, preserving a bullish medium-term structure, but investors are watching whether institutional buying can keep supporting the index near 46,000 and whether the Federal Reserve's July meeting minutes alter sentiment on rates and global technology shares.