Taiwan's TAIEX reversed an early decline of more than 300 points on Aug. 21 to close at 45,224.29, up 290.55 points, or 0.65%, as TSMC and shipping shares led a late-session recovery. All three major institutional investor categories were net buyers, with foreign investors and mainland Chinese capital purchasing NT$28.3 billion, or approximately $889.8 million, of Taiwan shares for a second consecutive session. TSMC rose 1.47% to NT$2,410 after a late block purchase of 4,045 lots, while Wan Hai Lines and three other shipping stocks hit their daily limits. Turnover contracted to just over NT$710 billion from NT$793 billion in the previous session, raising questions about the rally's durability. The Taiwan dollar gained 7.7 cents to close at NT$31.848 against the U.S. dollar, its third consecutive daily gain and a near two-month high, supported by foreign inflows, a weaker U.S. Dollar Index below 99 and lower Treasury yields. Traders said the currency was consolidating between NT$31.8 and NT$32.0, with further gains dependent on sustained foreign buying and continued dollar weakness.