Taiwan's market staged a sharp comeback, good news for tech investors but the rally still looks fragile without heavier trading.

• The Taiwan index reversed from a weak open to close up more than 660 points, its second straight late-day turnaround.
• Optimism that the Strait of Hormuz will reopen pushed oil prices down and bond yields lower, lifting chip stocks worldwide.
• Optical lens, IC design, PCB, and cooling-related names surged, while shipping stocks fell with oil.
• Foreign investors, local funds, and dealers all bought, together adding roughly NT$59 billion.
• The catch: holding above the 46,000 level is seen as needing trillion-dollar daily turnover, and money is still cautious ahead of Nvidia's results and the Jackson Hole meeting.

Outlook: The next two sessions hinge on how stocks trade after Nvidia's earnings and whether the heavier volume sticks.