Taiwan's market stalled just short of the 50,000 milestone, a mild setback for investors betting on a quick breakout, though the broader AI-driven rally in US tech is still intact.

• Taiwan's index opened higher then turned negative, dropping about 200 points and leaving it roughly 400 points short of 50,000.
• TSMC gave back ground after hitting a record high the day before, and MediaTek, Hon Hai and Delta also fell.
• Panel makers AUO and Innolux bucked the trend with a burst of buying, with AUO trading 18,000 lots in the first two minutes.
• Big institutions are pulling money out: local investment trusts and foreign funds both sold heavily, trimming AUO, Hon Hai and TSMC.
• US stocks hit records as the S&P 500 topped 7,800 for the first time, helped by G7 emergency oil reserves calming fears over the Iran conflict and cooling bets on another Fed rate hike.

Outlook: With memory makers posting blowout sales and attention turning to US bank earnings, a push past 50,000 looks likely within days if foreign selling eases.