Taiwan's stock market faces a short-term pullback after hawkish comments from Fed chair Warsh, but big investors still see dips as buying chances.

• US stocks turned negative on Friday after Warsh signaled a tougher line on interest rates, dragging down TSMC and ASE shares traded in New York.
• Taiwan futures fell sharply overnight, raising questions about whether September will still be a strong month.
• Expensive AI stocks look most at risk, and the market may retest its quarterly average price line — a level traders watch closely.
• Nvidia's strong chip shipments keep the outlook solid for Taiwan's advanced chipmaking, packaging and server suppliers.
• Money is rotating out of pricey AI growth names into finance, industrials and high-dividend stocks, though not a broad move to bearishness.

Outlook: A choppy September is likely, with the international semiconductor show in early September and long-term AI demand expected to pull money back into tech leaders.