Taiwan's stock market opened higher Wednesday and quickly gained more than 300 points, a bright spot for local investors even as renewed US-Iran fighting rattled markets elsewhere.

• The index opened slightly up and then jumped past 47,400 in early trading.
• Chipmakers led the way, with TSMC and MediaTek both opening higher.
• Hon Hai was a rare laggard, opening slightly lower.
• Wall Street mostly fell the day before as oil pushed toward $100 a barrel on the Middle East conflict, with only chip stocks holding up.
• The split shows money is still crowding into semiconductors even while war worries weigh on everything else.

Outlook: Chip demand is holding Taiwan's market up for now, but a further climb in oil prices would make that harder to sustain.