Taiwan's stock market clawed back an early sell-off to close above 45,000, a mildly reassuring sign for investors after a losing week.

• The index fell as much as 350 points early Friday before TSMC turned higher and steadied the market.
• Taiwan stocks still lost close to 600 points on the week, and are seen stuck in a sideways range for now.
• Four things now drive direction: Nvidia's earnings, the Jackson Hole central bank meeting, tariff policy, and geopolitics.
• Jackson Hole is being read as the main clue to what the Fed does at its mid-September meeting.
• Fund managers say dips are buying chances, favoring advanced chipmaking, memory, AI server parts, plus plastics and power stocks.

Outlook: The market is expected to keep chopping in a range below 46,000, with Nvidia's results and the Fed's tone setting the near-term tone.